The Advantages of Joining a Credit Union in New Bedford, MA

join-a-credit-unionConsumers are always looking for the best value for their dollar and this is also true when it comes to choosing a financial institution for checking, savings and other investments. While many people are familiar with banks and the types of services that they offer, not everyone is familiar with how credit union online banking and services work. When you join a local credit union in New Bedford, it is very similar to what you might have already experienced at a bank, but with some very distinct differences.

Many people are looking at other options for their checking and savings due to rising fees, concerns about the practices or many popular banking institutions and just general mistrust of banks. Going through your local credit union for a basic New Bedford Share Savings or NOW Checking account can help you to pay your bills, manage your money, cash your paycheck and take care of a wide variety of other financial services that you could get at a bank. But while you open a checking account at a bank, before you can start using the services at a credit union – you first need to become a member.

The Benefits of Membership
How is being a member of a credit union in New Bedford different than being a customer at a bank? The biggest clue can be found in the language used to describe each type of relationship. At a bank you are a customer and you open an account, while at a credit union, you actually join and become a member. The most common complaints about banks is that they treat their customers like numbers, that they don’t care about their financial situations and that they operate like a business with a focus on generating income rather than serving their customers’ needs.

According to the Credit Union National Association (CUNA), not-for-profit credit unions nationwide have gained well over a million new members in the past year, shattering records in many states. Credit unions can vary in size, services and membership requirements. For example, to be eligible for membership at St Anne Credit Union in New Bedford, you must work or live in Plymouth or Bristol counties in Southeastern Massachusetts. You don’t need to work for a certain employer or belong to a union or club, you just need to work or live in Bristol or Plymouth counties.

St Anne Credit Union is owned by the members and is a non-profit financial institution. What that means is that this credit union works to serve its members, who make up the board of directors, instead of working to serve the financial growth and greed of shareholders. We serve over 3,100 members in the local area and boast over $18 million in assets. St Anne Credit Union in New Bedford is the oldest credit union in all of Southeastern Massachusetts, having been established on August 3, 1911.

Opportunities for Members
When you become a member of St Anne Credit Union in New Bedford, you also gain access to a whole world of other opportunities. As a member, you can apply for a credit union home loan or auto loan, as well as other personal loan options. Credit union home loans and other lending opportunities often come with much better interest rates, reduced fees and costs, compared to other banking institutions. Come in to speak with one of our representatives about credit union online banking, various types of New Bedford Share Savings, Christmas Club savings and other beneficial opportunities. While you will find some of these options at other financial institutions, you will almost always get better rates, terms or fees when you choose to go with your local credit union in New Bedford.

Some of the loan opportunities available at St Anne Credit Union include:

  • new automobile loans with terms that range from 2-6 years
  • new motorcycle loans with terms that range from 2-4 years
  • used automobile loans with terms that range from 2-5 years
  • personal loans for $500 to $10,000 with terms that range from 1-4 years
  • share loans that are secured with your main share account or certificate of deposit
  • fixed rate equity loans up to 75 percent of the value of your home less mortgage
  • equity line of credit on occupied properties up to $125,000
  • fixed rate mortgage loans with terms that range from 5-30 years

Some of the savings opportunities available at St Anne Credit Union include:

  • our main New Bedford Share Savings account
  • Christmas Club account savings
  • certificate of deposit (CD) accounts
  • money market deposit accounts
  • IRA Share accounts to help save for retirement

Join St Anne Credit Union Today!
If you are interested in learning more about our popular credit union in New Bedford and you work or live in either Plymouth or Bristol counties in Southeastern Massachusetts, give us a call at 508-993-0011 or stop by our location on Union Street in New Bedford, MA. Our team of highly trained and experienced customer service agents can help you find the financial solutions and options you need to grow your money and achieve your goals. Find out why millions of Americans trust their financial security and future to credit unions.