The Perks of Credit Union Membership

Credit unions might be similar to banks in terms of what they offer, but our origin is rooted in “People Helping People.” In fact, the world’s first credit union was established in 19th century Europe to provide resources to those who lacked access to financial services!

This community focus leads to a number of perks for being a part of a credit union. But don’t just take our word for it! Here’s a few of them:

Not-for-profit

Credit unions are not-for-profit, which means any earnings are paid back to their members instead of stockholders. This means you get to enjoy higher savings rates and lower loan rates!

Member owned

When you open a savings account at a credit union, you also become an owner. This means you have a say over who leads on the Board of Directors – and everyone on the Board is a member, too.

Local, personal service

We understand the needs of the community because we’re a part of it! When you bank at a credit union, you’re helped by staff members who know the area and take the time to get to know you. You’re not just a number, you’re our neighbor.

Fewer fees

As a not-for-profit, we’re tax exempt, which means we can charge lower fees and have fewer of them.

Discounts for members

Many credit unions offer discounts on various insurance policies and other purchases, helping members save money both now and in case an emergency or unexpected life event happens. At Honda FCU, we offer discounts on Trustage® Life, Auto and Home insurance, as well as no-cost Accidental Death and Dismemberment insurance on all consumer loans. Learn more about our insurance offerings here.

Shared resources

Banks frequently do not share resources, such as ATM networks, so you’re limited to wherever they have branches and ATMs. Credit unions, however, frequently share resources, which means you have more access to your accounts. At Honda FCU, we’re a part of the CO-OP® Network, which provides over 30,000 surcharge-free ATMs and over 5,000 Shared Branches nationwide – more than even the biggest bank!

More educational resources

Credit unions – ourselves included – believe firmly in helping members increase their financial literacy in order to achieve a healthier lifestyle. After all, the more you know and understand, the better your financial decisions will be. At Honda FCU, we offer financial advice and tools to better your financial wellness at no additional cost to you.

We are proud to serve employees affiliated with Honda and their families. We’re here to help you achieve your financial goals while providing you the local, friendly service you deserve. Want to become a member, or know someone who might? Check our eligibility requirements under our Membership tab!

Sources:

https://www.hondafcu.org/membership/benefits-and-discounts

financial advice and tools to better your financial wellness

https://www.hondafcu.org/investment-retirement/insurance

https://www.hondafcu.org/membership/become-member