Credit unions are a popular option among millennials considering to open an account. The main reason behind the popularity of credit unions is that they offer suitable financial solutions which are in line with the financial requirements of the millennials.
When opening an account in a credit union, important things that millennials take into consideration are:
- Personalization: One of the most important things for millennials in a financial institution is the degree of personalization offered. They want a credit union to understand their needs beyond the financial preferences and provide them with personalized information and offers. They require support for financial planning in the form of a customized financial plans that offer flexibility and convenience.
- Protection: Data privacy is a huge consideration for millennials, and they want to know how their data and personally identifiable information is being used by a financial institution. Credit unions are known to be transparent with the data of their members and use the same to enhance their services.
- Mobility: Millennials look for mobility in financial transactions in the form of digital options that promote self-service. In addition to a convenient physical location of a credit union, they also want the convenience of online financial services. Online services offered by credit unions include bill pay, direct deposits, account opening, online loan application, etc.
- Community Benefits: A credit union’s social responsibility in the form of social programs, local drives, and community enrichment programs helps foster trust and loyalty towards it among millennials. Most millennials are dedicated to community service and appreciate financial institutions with the same spirit.
- Customer Service: A customer-friendly environment is an attribute of credit unions that appeals to millennials. Credit unions are in a better position to provide great customer service and personal attention as they have a limited number of members.
- Fees And Interest Rates: Most credit unions offer checking accounts with low monthly fees and convenient requirements related to deposits and transactions. They also offer competitive interest rates on savings accounts, credit cards, and loans.
- Financial Education: Millennials prefer to seek financial literacy from credit unions. Credit unions assist their members in making smart financial decisions.
Greater Central Texas Federal Credit Union offers a variety of financial services to millennials. The officials help members to open an account with the credit union. For more information on opening an account in a credit union, visit 3305 E. Elms Rd., Killeen, TX – 76542. You can also call at (254) 690 – 2274.
If you are looking for financial services like opening a savings account, applying for a loan or paying bills without any hassle, you should consider visiting a credit union. These non-profit organizations are owned by their members/account holders. Credit Unions provide a plethora of financial services at attractive rates/fees and are federally insured by the National Credit Union Share Insurance Fund.
You can avail following services as a member of a credit union:
- Savings Account: You can open a savings account to keep your cash safe while you earn interest. However, there are certain limitations on transfers from a savings account in a credit union.
- Checking Account: Credit union checking accounts let members spend their money without any limits on payments. They can access cash from the credit union via debit cards, online bill payment, writing a check, etc.
- Certificates of Deposit: These are a form of savings solution that pays members more than regular savings accounts. However, the pre-condition for this is that the customer has to leave his money in the account for a fixed amount of time. For customers who want some flexibility, some credit unions offer them money market accounts that allow them to access their funds throughout the month and enjoy high rate of interest.
- Loans: Credit unions offer auto loans and various other secured loans to their members. Auto loans are popular amongst credit unions due to their competitive rates of interest and thriving relations of credit unions with local dealers.
- Other Services: Most credit unions provide other services such as Direct Deposit, Payroll Deduction, Bill Pay, ATM, Notary Service, On-line access, Wire Transfer, etc.
Greater Central Texas Federal Credit Union offers a variety of services to help it’s members reach their financial goals. The services offered to the members include secured loans, savings accounts, checking accounts and various online banking facilities. To know more about what can you do at a credit union, visit 3305 E. Elms Rd., Killeen, TX – 76542. You can also call at (254) 690 – 2274.