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Dołączył: 18 Maj 2011
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 Wysłany: Czw 4:56, 26 Maj 2011 Temat postu: Ed Hardy Sale0As A Credit Union Member You Will Ac |
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h the recent turmoil rocking the traditional banking industry, a number of American consumers have begun to seek out a safe and viable alternative to the major banks. Even a number of community banks have failed since 2007 [link widoczny dla zalogowanych], though. So where is a frightened and frustrated banking customer to turn these days? To the same place that savvy American consumers have been turning for more than a hundred years, to a Credit Union.
Credit Unions prove to be a totally unique concept in the financial and banking industries. They are not for profit banks, neither are they savings and loans exactly. They began in Germany as an ideal to offer relief to poor farmers who were victimized by bad weather and crop failure in the mid 1800's. So successful did they prove in Germany, that they eventually made their way to America. One was begun in the United States in New Hampshire in 1908.
A notable point concerning credit unions is that while during the Great Depression, over five thousand for profit banks failed, only one out of twenty-seven credit unions open at the beginning of the Great Depression had closed by the end, and new ones had actually been started in the middle of the greatest economic crises in modern American history. This safety and stability is a huge appeal of Credit Unions which resounds with American consumers once again in our own times, the worst economic collapse since the Great Depression began seventy years ago.
What is unique about Credit Unions, besides their safety and security, lies in the fact that they do not report to [link widoczny dla zalogowanych], nor share any profits with, stock holders. Credit Unions are run by board members and presidents elected by the account holders. The owners of the Credit Unions are the account holders. All customers own one voting share in the institution, regardless of how much money they have with the Credit Union.
This leads to several interesting and rewarding features of Credit Unions. As a bank customer, do you receive any perks [link widoczny dla zalogowanych], or earn any profits when times are good? Hardly, banks are greedy and grasping and only looking to make as much money as possible for their ultimate owners, the shareholders. With Credit Unions, any and all profits booked are returned to the members, the account holders, in the form of lower interest rates on mortgages, auto loans, and title loans, as well as through higher interest rates on savings accounts and CD's.
All of the same products that banking customers receive from either their local community bank, or their mega national bank, can be had from their Credit Union. As mentioned before, auto loans, mortgages, and title loans are all readily available, and at lower fees and interest rates than from for profit banks.
Higher interest rates are also offered on typical CD's and savings accounts as well. The reasons for joining a Credit Union are numerous and varied, and with today's economic turbulence once again shaking the foundations of the traditional banking industry, the time for joining a Credit Union has never been better.
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