When considering where to keep your money and bring your business, there are lots of options available such as local and national banks as well as credit unions. Often, credit unions are a great option since they provide incentives to customers in the form of rewards, money, discounts and scholarships. If these benefits interest you, a credit union membership may be right for you and your financial needs. Here are the 5 major credit union member benefits.
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Credit union membership can often provide you with college scholarship opportunities that are exclusive to credit union members. College is a huge expensive and investment, so it is wise to take advantage of all opportunities to save and reduce tuition costs. Members of many credit unions are eligible for substantial scholarships through the nation’s credit unions. Most scholarships are awarded to local students who are members of the credit union, making you eligible for thousands of dollars of money towards your college tuition.
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As a credit union member you are also able to get discounts of several different products when you shop. Invest in America is a national rewards program that offers steep discounts on name brand American companies and products such as Dell, GE and many more. These discounts are meant to support American customers, companies and employees to improve the American economy. Some credit unions also offer entertainment discounts to members including ticket prices for movie tickets, amusement parks and more!
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A majority of credit unions also offer literacy and education programs for their members. Some educational opportunities and classes are scheduled and held at specific locations, but many are also available online making them extremely easy and convenient for learners and teachers alike! There are specifically many programs for education young adults and adults about financial planning, budgeting and more, helping them to become smart, savvy, well educated consumers.
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You may be able to get dividend checks from your credit union annually. In some cases, if the fiscal year was better than predicted or expected, the credit unions will provide dividends to members in addition to the many rewards and benefits members already receive. Just be sure to find out if there are any requirements needed to be eligible for these dividends such as length of time as a member or account size.
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Lastly, credit unions have savings rewards programs. These are savings programs that are linked to great prizes and incentives for members. Some also offer lottery style programs where members can win money and prizes regularly.
All of these benefits provide individuals with incentives to choose and stay with a credit union such as 1st Financial Federal Credit Union, rather than taking their business and money to a large chain bank. Keeping your money with a credit union can often help to keep money local while also allowing individuals to reap the benefits of membership in various forms. Benefits include scholarship opportunities, savings reward programs, education opportunities annual dividend checks, product discounts and so much more!