4 Biggest Credit Union Myths

October 19 is International Credit Union Day and it seems fitting that we take time today to clear up some misconceptions about credit unions. Let's find out the facts when we uncover the 4 Biggest Credit Union Myths.
Today we celebrate International Credit Union Day! In honor of this special day, we’d like to clear up the four biggest myths about credit unions.    

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4 Biggest Credit Union Myths

6 Nov 2017

4 Biggest Credit Union Myths

October 19 is International Credit Union Day and it seems fitting that we take time today to clear up some misconceptions about credit unions. Let's find out the facts when we uncover the 4 Biggest Credit Union Myths.
Today we celebrate International Credit Union Day! In honor of this special day, we’d like to clear up the four biggest myths about credit unions.  

They aren’t big enough.

There are big and small credit unions. Redstone Federal Credit Union® has more than 400,000 members and $4.8 billion in assets. Its deposits are insured by the federal government up to $250,000.    

It will be hard to access my money.

Redstone members have access to 75,000 surcharge free ATMs, making it easy for you to access your money anywhere.

I can’t join.

There are lots of ways you may be eligible to join the credit union. You may be eligible based on your employer, where you live, your family, or where you worship, volunteer or attend school

They don’t offer as many perks as banks.

Credit unions offer the same financial products as banks—checking accounts, debit and credit cards, online banking, IRAs (individual retirement accounts), and home and auto loans—but because they’re not-for-profit, they often offer better rates than banks.

As a member, the credit union belongs to you. Members are both owners and members. The more people that participate, the more can be given back in the form of more products, lower loan rates, higher savings dividends, and fewer fees.

Now, that’s something to celebrate! Tell us why you love your credit union!

Handshake Credit Union

What Make a Credit Union Different?

Our community commitment matched with our not-for-profit business model make us very different from a bank. Learn more about the Credit Union difference and why you should join today. 

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