While banks do handle more assets, this does not always make them the best option for you. Indeed, local credit unions, such as the American Spirit Federal Credit Union, have specific benefits that can make them a better fit for your financial need.

Customer or Owner?

At a bank, you are a customer: a source of revenue. Banks generate profits for their shareholders or stockholders.

They have one purpose in mind: to maximize profits for their stockholders, which they generally achieve through fees and interest.

However, credit unions, such as Credit Unions in Newark DE, Dover DE, and other Local Banks in Middletown DE, vary.

When you join a credit union, you are more than simply a consumer; you become an owner! Each member, including you, has an equal stake. And this membership provides you with a genuine voice.

A Voice That Matters

Did you know that credit unions are led by a board of directors elected by its members? At American Spirit Federal Credit Union, every member has the opportunity to vote in board elections. You can apply for a board position yourself.

This model makes credit unions more community-focused since decisions are made in the best interests of members rather than investors.

Profits That Flow Back To You

Credit unions, like banks, must generate a profit, but unlike banks, they return profits to members rather than investors. This can result in cheaper costs, greater savings rates, and better lending conditions for you.

Credit unions have been founded on the principle of "people helping people," therefore they prioritize servicing members over maximizing profits.

If you've ever dealt with bank fees, you'll understand why this strategy may be so effective!
Looking Beyond Your Credit Score

Applying for a loan? A bank will only evaluate your credit score. Credit unions, on the other hand, usually examine even more into your particular situation.

They want to understand you as a person, not a number. At American Spirit Federal Credit Union, we want to make loans available to our members by looking at your entire financial picture, not just your credit score.

Supporting Your Community

Credit unions remain true to their roots by investing in the communities they serve. Whether it’s by offering more flexible loan options, supporting local events, or simply providing friendly service, credit unions focus on lifting the people around them.

This approach makes them a great fit if you’re looking for an organization that believes in supporting Delaware communities.

Why Choose American Spirit Federal Credit Union?
American Spirit Federal Credit Union is the people-first choice among Credit Unions in Newark DE, Dover DE, and other nearby locations.

We provide the same services as bank savings and checking accounts, loans, and more but with a mission customized to your needs.

So, the next time you're wondering where to put your money, go beyond the numbers. Choosing a credit union might mean joining a community that cares about you and your financial well-being.


American Spirit Federal Credit Union

Main Phone Numbers
(302) 738-4515
(800) 941-7789

Website: www.americanspirit.org