Why Credit Unions Are Good For The Local Community
Credit unions contribute much to the areas they serve. From providing financial services to lending a hand when needed, credit unions are good for the community.
GHS Federal Credit Union has a proud and rich history of giving back to our members and supporting our communities. Unlike bigger national banks, we focus on building financial health through professional advice, a variety of investment options, savings solutions for all income levels, and simply keeping money in the pockets of our members.
Continue reading for more reasons why choosing a credit union may be the better option for your local needs.
Supporting Local Businesses And Jobs
A strong community thrives from an economy doing well. For us at GHS FCU, hiring employees locally is just one of the ways we like to support our local economy. Investing in local small businesses is another way credit unions are good for the local community.
Many small business owners often turn to credit unions for loans. In addition to offering better rates and fewer fees, credit unions typically process loans on a local level. This helps streamline applications and gives credit unions the ability to better understand a borrower’s unique situation before making a loan decision.
As local lenders, credit unions reinvest their deposit dollars right back into the community. When you open an account with us at GHS FCU, you’re helping support businesses and families right near you.
Driving Education And Financial Literacy
Credit unions exist to support members’ financial well-being by encouraging members like you to learn money management and smart financial habits. Showing how to save and manage your money wisely has a significant impact on what we do.
Many Credit Unions will offer money management classes and other financial literacy events on a wide variety of topics. These could take place online or within branches, workplaces, or other community spaces. At GHS FCU, we offer a variety of resources and update these frequently.
VARIETY OF SERVICE OFFERINGS
Just because a credit union may be smaller than franchise banks doesn’t mean its offerings aren’t as varied. In addition to financial education, credit unions often offer consumer loans, shared branches with other credit unions, online banking, ATMs, home equity loans, mortgage loans, car loans, member business loans, credit cards, overdraft protection, and more.
When you join GHS Federal Credit Union, you will receive competitive earnings on savings and lower rates on loans. Our friendly and knowledgeable staff is always available to help answer your financial questions and point you toward the best product or service to fit your needs.
WE GIVE BACK
Credit unions are intentional about serving their members. It’s common to see this support poured back into important charitable organizations. Many financial institutions donate to charity, but credit unions are somewhat unique in how they primarily focus on causes and organizations that make an impact locally.
Credit unions put an extra focus on choosing causes and organizations that are important to the members, industries, and communities they serve. GHS FCU participates in a variety of events benefiting our local community throughout the year. Click here for upcoming events and check back as we add new ones!
OUR COMMITMENT TO MEMBERS
Credit unions are good for the local community because they are not-for-profit organizations owned by local members who share in the organization’s success. Unlike bigger banks, credit unions can pass along much of their earnings to their members in the form of higher dividends on deposits, lower and fewer fees, and lower rates on loans and credit cards.
This practice keeps more money in the pockets of members and helps earn more with saving accounts. It also helps members have better accessibility to important opportunities such as owning a home, building a business, and saving for retirement.
CREDIT UNIONS ARE GOOD FOR THE COMMUNITY: WE ARE PROUDLY LOCAL, JUST LIKE YOU
GHS FCU has provided financial services and products to help guide our community through important events in their lives while also managing day-to-day financial needs. We want each of our current and potential members to feel confident that we have your best interests at heart.
Banking has made many changes since our start in 1940. Read below for helpful tips on how to protect your account and personal information.