Living in Berks County? Why Choose a Credit Union Over a Bank?
Are there good reasons to choose a credit union over a bank? If you are living in Berks County, PA, credit unions like Bellco Federal Credit Union have your best interests at heart and can often offer higher interest rates on savings accounts, and lower interest rates on loan products and credit cards.
Bellco FCU is a member-owned, not-for-profit federal credit union that has been offering unique financial products and services to people and small businesses in Berks County since 1938. Whether you are looking for home lending services, credit or debit cards, auto loans, or an excellent savings program, we have a product that will meet your needs.
What is a Credit Union?
Credit unions, like traditional banks, offer a variety of financial services to customers. The main difference is that banks are owned by stockholders. Their management and board of directors are interested in making as large a profit as possible.
Credit unions are not-for-profit institutions that are owned and operated by members. The money credit unions earn from interest on loans and credit cards is not paid to outside shareholders. When you join a credit union like Bellco FCU, you become a partial owner and have a say in any decisions we make.
The good news is that joining a credit union may be easier than you think! Bellco FCU offers membership to people who live, work, worship, or attend school in Berks County, including immediate family members such as your spouse, children, siblings and parents.
By opening a primary Member Savings account with as little as $5 and following a few simple steps, you can become a member. And, once you join Bellco FCU, you may remain a member for life, even if you live or work outside Berks County.
Advantages of a Credit Union
If you meet the membership requirements, credit unions have a lot to offer compared to a traditional bank:
Higher Rates on Deposits – Credit unions typically pay higher interest rates on deposit accounts, including savings and checking accounts, than you can expect to receive from your local commercial bank. Compare Bellco FCU’s competitive rates here.
Lower Rates on Loans & Credit Cards – Credit unions generally offer lower interest rates on mortgages, personal loans, auto loans and credit cards than traditional banks. Compare Bellco FCU’s loan and credit card products and rates here.
Lower Fees – Credit unions have lower expenses compared to traditional banks, so they are able to pass the savings on to members. Bellco FCU, for example, offers free checking accounts with no minimum balance restrictions, free online banking and bill pay, free eStatements, and free mobile banking.
Customer-Focused – Credit unions like Bellco FCU offer fast and personalized customer care. Our trusted and experienced professionals genuinely listen to your unique needs and offer solutions with the compassion of a true neighbor.
Why choose a credit union like Bellco FCU over a bank? If you are living or working in Berks County, you’ll love the personalized service, better rates on loans and credit cards, and the ability to save hundreds of dollars on fees. Contact us today to learn more!