HOW TO CHOOS
HOW TO CHOOSE
A guide to products & services in the Golden Triangle
INSIDE
Auto Repair ......................46Building Supply Store .....50Cardiologist ......................28Counseling Service .........32Credit Union .......................2Dentist ..............................16Dermatologist ..................18Eye Wear ..........................20Family Clinic ....................26Financial Advisor ...............4Financial Planner ...............8Funeral Home ...................38Granite Countertops ........52Hearing Aids ....................30Hospital ............................22In-Home Care ...................36Interior Designer ..............54Investment Firm .................6Lawn Tractors ..................44Motorcycle/ATV ................42Nursing Home ..................34Pediatrician ......................14Physical Therapist ...........24Private School ..................10Tractor Dealer ..................40University .........................12Wine ..................................48
Sunday, January 24, 2021
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SUNDAY, JANUARY 24, 2021HOW TO CHOOSE GUIDE
HOW TO
HOW TO
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CHOOSE
credit
A credit
union
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arge banks and financial institutions are often the default choice for many when it comes to deciding where to house our mon-ey. They’re convenient and offer a wide variety of services, but they can also seem impersonal.If your seeking more personal service from a consumer-owned institution, credit unions my be the perfect fit. Credit unions are cooperatives in the truest sense of the word. They have existed for more than 100 years, springing from the idea that serving a group of unserved or underserved people as a group could prove economically feasible and offer an alternative to traditional banks. Today, they rank among the best mi-cro-finance organizations available to large swaths of the population.Unlike big banks, which are owned by share-holders or conglomerates, credit unions are typically nonprofit operations owned by their members. Credit unions charge fewer and lower fees than for-profit banks. Ans any dividends go to the members instead of shareholders. In short, credit unions are a good deal. They usually offer better interest rates on savings accounts and competitive rates on various loans. You might get a fantastic rate on a student loan, mortgage, auto loan or credit card. And, like bigger banks, the federal gov-ernment ensures credit union deposits up to $250,000. The first step in selecting a credit union is to research those in your community and their membership requirements. Some credit unions are available to employees of specific compa-nies, groups of public service or school employ-ees. But offers extend eligibility to anyone will-ing to follow their membership requirements. You may be asked to join a food co-op or other organization in order to qualify for membership. A simple internet search is an excellent starting point. Develop a list of credit unions in your area. Then narrow your possibilities by researching eligibility, services offer and fees charged by each credit union. Verify the current interest rates on their accounts. If you can’t find the rates online, call and ask them for the percentagesFind out if there are any fees associated with the accounts you want to open. As with tradi-tional savings and loan banks, you might be required to pay a fee if you fall below a minimum balance.Check about other requirements. You might need to use your debit card a certain amount of times each month. If you are in the market for a specific loan, research to see if the loan is issued by the credit union. Once you have found several credit unions offering that type of loan, compare interest rates and specials to see who has the best deal.Of course, convenience is something to keep in mind. Check for availability of online services, weekday and weekend hours, where branches and ATMs are located. You should also understand any fees associ-ated with ATM or debit card usage. If you use ATMs frequently, those charges can add up fast.Some credit unions belong to a nation network of credit unions for shared services. It might mean more access to ATMs and other services in case you move or go on vacation. If you have children attending college in other cities, this can be useful.Once you have completed your research, make a list of the advantages and disadvantages of each credit union. You can easily compare them. Upon choosing your credit union, visit the branch so you can understand all of the ser- vices. Learn more about the benefits of member-ship.
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HOW TO CHOOSE GUIDESUNDAY, JANUARY 24, 2021
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