It's a question that comes up often when I tell people that I work at (and do my banking) at a credit union. The Huffington Post offered a great description of what credit unions are in a recent article.
"A credit union is a friendly, 'not-for-profit,' financial institution that is comprised of members only. Credit unions offer special deals to its members, unlike 'for profit,' big-name banks. Any profit made by the credit union is directed back to members via higher interest rates on savings/checking accounts and lower interest rates on credit cards and loans, unlike a commercial bank, which constantly thinks of new ways to increase its revenue for shareholders via methods such as customer fees."
I couldn't have said it better myself.
"A credit union is a friendly, 'not-for-profit,' financial institution that is comprised of members only. Credit unions offer special deals to its members, unlike 'for profit,' big-name banks. Any profit made by the credit union is directed back to members via higher interest rates on savings/checking accounts and lower interest rates on credit cards and loans, unlike a commercial bank, which constantly thinks of new ways to increase its revenue for shareholders via methods such as customer fees."
I couldn't have said it better myself.
What are the advantages of credit union banking? Credit unions are nonprofit organizations and becoming a member is relatively easy if you belong to a particular labor union or residential community. The financial services that are offered by credit unions are very much similar to banks, yet credit unions are owned by their members.
Most credit unions offer secured cards to their members. You can use a secured credit card to build a credit history. In order to build a good credit history, you will need to only buy what is necessary and not indulge in impulsive shopping.
Are you thinking about getting one of the credit union credit cards? If you are looking for a card with lower interest rates and fees, then credit union credit cards should be an ideal choice.
We need to have a credit card for carrying out day to day normal activities. Whether you are booking an airline ticket, making a hotel reservation, or shopping at a local store, credit cards have become an essential aspect of life.
A federal credit union credit card has a number of advantages when compared to a credit card from conventional big banks.
What are the benefits of a federal credit union credit card? Most people tend to buy credit cards from large banks that offer them at a higher interest rate. A federal credit union credit card offers lower rates and are very customer friendly.
Are you looking to start investing and aren't sure where to begin? Are you getting married and need some financial advice for after the honeymoon? Are you looking for better credit card rates?
Many reports have been released in the last few months commenting on the overwhelming number of consumers that have been making the switch from their banks to local credit unions.
This last week credit unions have received multiple positive media reviews concerning issues like growth, member business loans, credit card rates, benefits of credit unions and more. Many are saying the only difference between credit unions and banks is who owns them. 
If you haven't already begun thinking about savings for later in life, now might be a good time to start. Studies have shown that the past two generations have developed significantly poorer savings habits than their predecessors. Much of this is due, experts say, to high buying capabilities, accessibility, credit cards, and lack of financial ownership at earlier ages. And yet, habitual money saving is a critical step in any healthy financial status or program. What most of this younger generation is failing to realize is that time is on their side, but ticking away. 
Starting a new project? Believe it or not, right now is one of the best times to start a home improvement project, or a new construction project. If you have put off your home project for a better day, you might want to rethink. Take advantage of the economy and the prices and make your improvements now, so when the market does recover you are ready with a substantial house and a larger profit difference. 
FCFCU has teamed with Microsoft Money and Quicken/Quickbooks to bring you even more simplicity through day-to-day money automation. Service is free when you activate online banking with FCFCU. Download your account history and receive intelligent methods to manage and monitor your finances. 
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