Savings – a powerful instrument to secure your future. Where and how to keep it safe? The most obvious options you have in mind are the banks in Portland Oregon. Before you decide whether these institutions are safer destinations than banks, it is essential that you find out the best credit union Portland. The widespread financial crisis in 2008 and more recently the Wells Fargo scandal indicates that the hard earned money may not be falling into the right hands for safekeeping. While searching for equally or more viable alternatives, you may have come across the names of several credit unions. You may find that a lot of people you know prefer these institutions over banks for securing their finances.

A credit union functions as a cooperative financial institution, which is managed by a few personnel, chosen among its members and complies strictly with regulatory principles for financial institutions. Many claim that unlike the banks in Portland Oregon, credit unions are safer to keep money. One of the main reasons that credit unions are preferred over banks is because they provide loans at reasonably lesser interest rates. So, while you search for the best credit union Portland, always consider whether the interest rates they offer on loan amount suits your preference.

No matter how reputable, the banks in Portland are ‘for-profit’ organizations and their modes of operation are largely determined by the shareholders. These shareholders are ultimately driven by the interest of obtaining the highest return on their investment. In order to preserve these interests, banks in Portland Oregon may change their policies and norms that ultimately affect customers’ convenience. In contrast, the best credit union Portland would always give priority to their members’ interest. Unlike the banks, credit unions are run by their respective board of directors that is chosen by members. The board makes strategic decisions regarding reinvestment of the profit or sharing a part of the profit with its members.

The first step to become a member of the best credit union Portland is getting in touch with a representative of the state credit union league. Through him/her you will know about all the credit unions in your locality. You can also contact the higher management of your company/workplace to find out if they are affiliated to or sponsored a credit union. In this way, it will be easy for you to find out critical details, such as reliability of the credit union, facilities they offer to their members and interest on loans, among others. You can compare and contrast your findings with the benefits that the best banks in Portland Oregon are offering their customers.

Personal research, therefore, plays an important role when it comes to gaining necessary insights about the best financial destination of your life’s savings – credit unions or banks in Portland Oregon. If you decide to stick with the conventional savings avenue then find the right bank that won’t cost you a fortune to maintain your savings. If you wish to move beyond the usual formula and yet seek peace-of-mind, then opt for the best credit union Portland after a thorough research.
The selection between banks in Portland Oregon ( https://www.onpointcu.com/ ) and credit unions in your locality can be daunting. Give highest importance to your personal preference and the value you expect from a financial institution before choosing the best credit union Portland ( https://www.onpointcu.com/ ) .