Experience The Credit Union Difference
Why Join A Bank When You Can Join A Credit Union?
According to MyCreditUnion.gov, credit unions are not-for-profit organizations that aim to serve members, rather than to maximize profits. Credit unions operate similarly to banks in that they accept deposits, make loans, and provide members with a variety of financial services. The big difference between banks and credit unions is that credit unions are member-owned institutions with a focus on the member, rather than corporate profit. In addition, credit unions are able to provide their members with lower loan rates, lower or no fees, and higher dividends. If you are looking for a credit union in Brevard or Volusia counties, you have come to the right place.
8 Reasons Credit Unions Win Over Banks
- Lower Rates On Loans. According to DataTrac, credit unions are able to offer loans at 1.5 to 2.0 percentage points below banks. Launch CU offers a variety of loans to those who live, work, or worship in Brevard and Volusia counties. These types of loans include: personal loans, auto loans, mortgages, credit cards, and much more. All of our loans offer low rates and great terms. To check out loan rates at Launch CU, click here. If you have an auto loan or mortgage with another financial institution, you could save some money by refinancing your loan with Launch CU. Apply online today!
- Motives. The word motive says it all. A credit union’s sole purpose is to have its members’ best interests in mind, not the bottom line of the institution. You will not see a credit union “doing whatever it takes” to meet its goals. At Launch CU we strive to help our members to go beyond to reach their financial goals, and save time and money while doing it.
- Checking Account Fees. Big banks are known for charging fees to customers for just about everything. Over the past few years, it has gotten worse. According to Business Insider, having an account at a big bank could be costing you an additional $150 per year. Since credit unions have lower expenses, they are able to pass savings onto their members. At Launch CU, we offer no monthly fee* and no minimum balance* on our Classic Checking Account. To see how a Launch CU Checking Account could save you money, click here.
- Low Credit Card Rates. According to a report from the Pew Health Group, the largest credit unions offer lower rates than the largest banks. According to Money Talk News, the NCUA reported that the average APR for credit union credit cards was 12.89%. In addition, credit cards from credit unions typically have lower and fewer fees. Launch CU offers three credit cards: Platinum, Classic, and Secured. All Launch CU credit cards offer members great safety, convenience, and great rates; with rates as low as 8.97% APR* on Platinum. For more information on Launch CU credit cards click here, or apply online!
- Ease Of Borrowing. If you have been turned down for a loan by a big bank, think about applying for your loan at a credit union. Borrowing standards at credit unions are more flexible than at big banks, and many times credit unions are willing to work with you, especially if you are a member in good standing. To apply online for a loan at Launch CU click here.
- Higher Earnings On Savings Accounts. Typically credit unions offer higher dividends than banks on savings accounts. Launch CU aims to help you go beyond with our Savings Accounts, Youth Savings Accounts, Holiday Savings Accounts, and Certificates. For more information on Launch CU Savings Accounts, click here.
- Convenience. It may seem that belonging to a big bank with many locations is more convenient than belonging to a credit union with fewer locations. However, you may want to rethink that. Credit unions have a variety of online, phone, and in-person services that can win the convenience war with banks. Launch CU offers a variety of online services including:Online Banking, Bill Payer, E-Statements, Mobile Banking, Text Banking, and Popmoney® to help make managing your finances a breeze.
- Human Interaction. At a credit union the focus is always on you, the member. Credit unions pride themselves on one-on-one personal attention. At Launch CU, our focus is on you, the member. We are always available to speak with you regarding your account on the phone or in person. Best of all, we will never sell your mortgage, as all of our mortgages are serviced in-house. For more information on Launch CU mortgages, click here.
If you are already a member of a credit union, great job, and thank you! If you are not, becoming a member of Launch CU is simple. Anyone who lives, works, or worships in Brevard or Volusia counties can become a member at Launch CU. In order to become a member you just need to open a Savings Account. The best part is that by opening your Savings Account you are actually becoming a shareholder in the credit union. This is a unique relationship that a bank simply cannot offer. For more information on how to become a member of Launch CU, click here.
*APR=Annual Percentage Rate. The rate you pay will be based on your creditworthiness. If your risk profile puts you in a higher risk category your rate may be higher. Rates shown are subject to change without notice. Click here for additional disclosures, rates, and terms.
**Savings account requires a one-time membership fee of $5, plus a minimum deposit of $25.
***Checking account requires credit approval
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