5 Things to Know About Credit Unions - California Credit Union and North Island Credit Union (2024)

People helping people.

Big banks are just that … big, while bank customers are just that … customers. If you’re looking for a wayto manage your money at a more community-oriented establishment that always keeps members inmind, turn to a credit union. While banks have long been known to deliver the technologicalconveniences, the tide has changed. Credit unions now offer the same high-tech conveniences as bankswhile continuing to provide tailored services with a personal touch.

Here are 5 benefits of belonging to a credit union:

Membership (ownership) versus being a customer

Banks are for-profit organizations owned by shareholders who have voting rights based on theshares they own. Credit unions are not-for-profit, member-owned organizations and regularly poolresources to provide better services for members. And, credit unions return profits back tomembers through:

Attractive rates

Banks are organized to make money for shareholders by distributing net proceeds to shareholdersonly. As not-for-profit organizations, credit unions distribute net proceeds in the form of lower fees,higher returns on savings rates, and lower borrowing rates. These perks apply to:

Member Specials & Discounts

Credit unions set themselves apart by helping members save money on products and services.

Increased community involvement

Credit unions invest resources in the communities where current and potential members live andwork. They are committed to helping improve each member’s financial and overall well-being.There’s a reason the credit union industry motto is “people helping people.” Credit unions regularly:

Commitment to member satisfaction

Credit unions are often ratedhigher in overall satisfaction, compared to all other financial institutions, because they offer:

As a member-ownedfinancial institution, we continue to maintain our strong community ties and concentrate our efforts onserving the needs of our members and community. We are dedicated to making banking easier forall Californians, and we hope you’ll choose us to for all your financial needs.

All materials contained herein are for general informational purposes only and do not constitute tax or legaladvice.