Credit Unions Are Different From Banks
“The advantages of credit unions are many, while the downsides are few.” Wrote spot55.com on their members website. AARP reported that over 400,000 people moved their accounts from banks to enjoy the benefits of credit unions in October and November 2011 alone. Should you ask members or consumer advocates about the advantages of credit unions, you’ll hear a long list of pros, and few, cons. Even bank insiders, if they are honest, will express the benefits of credit unions.
Credit unions are not “fee junkies.” The benefits of credit unions include low fees. The credit union industry saved its members over $6 billion in fees in 2011 compared to average bank fees. You and your fellow members are owners of the credit union, unlike banks that are owned by Wall Street stock holders. Any profit at year end with the credit union belongs to you and all of our other loyal members.
How do I join?
$6.00 is required to open your Share Account (basic savings account) and you will need to provide two forms of identification (Example: Driver’s License and Social Security Card) to comply with the Patriot’s Act.
Rate Adjustments on CD’s
A concern which members may have when placing money into a Certificate of Deposit (CD) is that they have locked in their rate and may miss out on new rate increases as the economy and the interest rate environment improve. Read More »
Skip-A-Payment Loan Program VRCU
Members may SKIP their November or December loan payment if (1) Loan has been made & current for 3 months, (2) Loan has not had more than 1 extension, (3) Collateral is worth the loan balance. Download The Form »