GCTFCU Blog | Benefits Of Banking With Credit Unions

Although credit unions may seem to be almost similar to other financial institutions, but the people having its membership can easily see the difference between the two. Being a non-profit organization, credit unions offer a lot of benefits to its members that are usually not provided by the banks.

Given here are some of the perks you can enjoy with a credit union membership:

Lower Fees And Better Rates: Credit unions operate with the sole objective of working for the welfare of their members. All profits that they earn are returned in the form of lower rates of interests, better services, and minimum fees.
Volunteer Board of Directors: Unlike banks, the functioning of credit unions is administered by a volunteer board of directors. When a member opens an account, he/she is immediately given certain share in the credit union. Every member has an equal say in the governance matters, regardless of the size of their account.
Board Elected By Members: Every year, the credit union conducts elections where the members are free to choose who would be serving on the board of directors. The elected members, then, formulate and implement the policies of the credit union.
Flexible And Convenient Loans: Members of a credit union can avail convenient home and auto loans with easy repayment options. Also, filing for and getting approved for a loan is a very easy process. It does not involve much paperwork and the application is approved within a few days.
Dividend On Savings: The profits earned by a credit union are usually returned by way of attractive dividends on the savings account of the members. The dividend rate may vary from year to year.
Members Have Common Interests: Members of the credit union share a common bond of owning a share in the union. To be a credit union member, the individual must fulfill certain eligibility criteria, such as area of employment, place of residency or affiliations with other institutions. This implies that each of them holds something in common.
Convenient Access To Your Money: Most credit unions offer online account access so that the members can easily view complete summary of their financial transactions. Thus, you either opt for 24X7 access or personalized services during the office hours.

Greater Central Texas Federal Credit Union is a leading credit union offering affordable financing services to the people of Killeen, TX. To know more about our credit union, call us at (254) 690 – 2274.

Credit unions are non-profit organizations that provide low interest loans and work towards providing maximum benefits to the members. The high quality of services offered to the members is one of the major advantages that draw people towards credit unions in Killeen, TX.

Listed below are some other membership benefits associated with a credit union:

Low rates of interest: The home and auto loans offered at a credit union are quite affordable which helps the members in saving a lot of money. Also, credit unions generally put forward higher returns on savings and certificates. A credit union can provide better rates of interest because it gives all the profits directly back to the members. There are no stakeholders who need to be given a share in the profits. Apart from the low rates of interest, credit unions also offer low-rate credit cards to the members. This also adds up to a significant amount of savings.
Equal rights: A credit union is basically member-based organization where every member shares an equal right to select the board of directors. The right to vote does not depend on the amount of money you have in your account.
Superior quality of service: The staff at a credit union provides personal attention to each client and work towards achieving maximum client satisfaction. The service representatives are extremely well-informed and help the clients in resolving any issues associated with financial transactions.
Well-developed online system and ATM network: A credit union offers various online services for the convenience of their members. You can obtain all the information pertaining to your account with just a click of the mouse. You can even make online bill payments easily. Apart from this, a broad network of ATMs located in thousands of locations across Killeen allows you to withdraw money whenever required.
Community Service: There are a large number of credit unions that organize different kinds of activities to make the members aware about effective management of their finances. Therefore, they are extremely helpful as a community service organization.

Be a member of Greater Central Texas Federal Credit Union to have access to low interest loans and various other financial services. For more information about the credit union in Killeen, TX, call at (254) 690 – 2274 or visit 3305 E. Elms Rd., Killeen, TX 76542.

Credit unions are community-based financial institutions that offer additional advantages for their members. They focus on community, attractive and affordable loan rates, and other added perks. Members are offered a variety of financial services for added convenience. One of the most attractive features is the ability to make online payments.

Credit unions offer a safe and secure online payment facility. Benefits of using online payment facility offered by a credit union are:

Convenience: Online bill pay service makes it easier to organize bills and pay them before they are due. If an individual juggles rent/mortgage, cable, electricity, credit card payments and more; online bill pay can save time and help to avoid late fees. There is no requirement to log into several websites and remember multiple passwords. Credit unions also offer an option to pre-schedule payments on their due date. Whether the bills are received electronically or by mail, members can utilize an online facility to schedule payments.
Security: Credit unions use the most suitable security protocols to keep their online transactions secure. Several methods are incorporated to keep member information safe including security layers, etc.
Simplified Money Management: Making online payments can help members check account balance and determine whether the bill payment has been scheduled and paid. Other benefits may include searching for specific payments online, access to online payment history, setting up email alerts for payments, etc.
Environmental Advantage: One of the biggest benefits of paying bills online is eliminating paper waste. Paying bills online will reduce the use of paper checks. In addition to eliminating paper waste, it also eliminates the costs of postage and envelopes.
Easy Consolidation: Using an online payment facility will allow consolidating bills in one place as they are posted from one account each month.
Organization: It is certainly possible to lose track of finances, but online bill payments help individuals to organize their records. With all the bills and payments organized at one single place, members can easily know if something is posted incorrectly.
Saves Time: Once the electronic bill payment service is set up online, it takes just minutes to pay the bills. Increasingly people are shifting to electronic statements and making use of online bill pay, thus saving themselves time and money.

Greater Central Texas Federal Credit Union offers online bill payment facility to its members. The Bill Pay member service helps to conveniently make online payments in a safe and secure manner. For more details on the benefits of online payment facility by credit union, visit 3305 E. Elms Rd., Killeen, TX – 76542. You can also call at (254) 690 – 2274.

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