Savings Account, Money Market, Certificate of Deposit in New Bedford

Pros & Cons Join a Credit Union New BedfordWhenever you make a big financial decision, whether it is to purchase a new house, lease a new vehicle, or change banking institutions, it pays to be cautious. You don’t want to get in “over your head” or work with a company that has a less than stellar reputation. When you join St Anne Credit Union in New Bedford, you gain the opportunity to take advantage of everything our credit union has to offer. In addition to traditional checking and savings accounts, we also offer credit union loans, such as auto loans, personal loans, and even a credit union home loan, depending on your needs.

A recent poll in the United States revealed that the number of credit union members in our nation grew to 110 million – a record high for the country. There are many benefits associated with joining a credit union in New Bedford, but it pays to know what to look for in a financial institution. While many consumers are turning to credit unions as an alternative to banks, it is important to understand that not all credit unions are created equal. Choosing the right credit union can make all the difference in the experience that you have, whether you are interested in basic checking or want to see about getting credit union loans.

Customer Service

One of the ways that credit unions can beat banks hands down is with customer service. While most banks tend to treat their customers like a number, ranked based upon the dollar amount in their checking account, credit unions are different. First of all, you are not a “customer” at a credit union, but a member. As a member, you have a voting voice in the way that things are done. A credit union is a cooperative (CO-OP) that is owned by the membership, which means that the primary goal is to provide their members with the best possible rates, services, and opportunities. The mission of most banks is to make the biggest profits for their shareholders, which does not include you, the customer.

Eligibility

Typically a “con” for some people who are considering joining a credit union, some institutions require the member to work for a certain company, within a specific industry, or belong to a specific association, or to have a religious, or fraternal affiliation. St Anne Credit Union in New Bedford only requires our members to either work or live in Bristol or Plymouth county here in Southeastern Massachusetts. We are currently the oldest credit union in the region, having been established on August 3, 1911. We have over 2000 members and more than $16,500,000 in assets.

Interest Rates

Another perk of working with a credit union in New Bedford is being able to take advantage of interest rates. Our rates are typically lower than traditional banking institutions and lenders for credit union home loan, auto loan, and personal loan opportunities. However, when it comes to our interest rates for savings, money market accounts, and Certificate of Deposit (CD) accounts, we are often higher than our other local competitors. This is just one of the ways that we pass on the savings from our not-for-profit status to our members.

Banking Fees

Another clear benefit to using St Anne Credit Union in New Bedford is that we will often have much lower fees for regular banking services than other banks. These fees include maintenance charges for checking and savings, as well as other costs for doing businesses. Compared to banks, most credit unions can be flexible in the amounts that they charge. The goal is to keep costs down for members, but some costs, such as non-sufficient funds charges, might still be around the national average.

Convenience

There are a lot of conveniences built into the membership program and offerings at St Anne Credit Union. Our credit union hours in New Bedford are comparable to what you would find at a traditional local bank. Shared ATMs and branches help our members to access their money and make transactions, even outside of the Southeastern Massachusetts region. The CO-OP ATM network that we belong to provides fee-free ATMs and options at other shared branches nationwide. Online banking opportunities help members to keep track of transactions and balances 24/7.

Join St Anne Credit Union in New Bedford

If you are looking for all of these benefits and more, consider joining St Anne Credit Union. For well over 100 years we have proudly served the people of Southeastern Massachusetts. Whether you require credit union loans, such as a credit union home loan or auto loan, or if you just want quality checking and savings, our team can help. Give us a call at 508-993-0011 to speak with an agent or drop by our location on Union Street in New Bedford. Our website can provide you with a lot of information about everything from current interest rates, advertised specials, and our credit union hours in New Bedford.