The chairwoman of the Credit Union of Texas talks about the advantages of membership.

Dallas, TX, – Credit union membership is a privilege that only certain people are generally granted access to. Educational institutions, government agencies and certain businesses, for example, may provide credit union membership to their employees, affiliates or students. Unsure of differences between traditional financial entities and credit unions, some eligible people may pass up on the opportunity. Doing so, however, may end up costing people more over the long haul.

“Credit unions are financial institutions that are member driven,” explains the Credit Union of Texas’ chairwoman. “These non-profit cooperatives exist solely to meet the personal financial needs of members. That difference enables credit unions to offer members privileges that traditional banking institutions may not be able to extend.”

These are three of the many reasons why people choose to become credit union members:

• Access to more personalized services – Credit unions are not driven by a need to please shareholders. Instead, they exist to provide the personalized attention members require. This often translates to a higher level of service and access to more tailored financial instruments meant to enable members to achieve their financial goals.
• Access to lower interest rates for borrowers – Credit union members often pay lower interest rates on loans and credit cards. The difference can add up to a significant savings over the life of a loan.
• Access to higher interest payouts on investments – Credit unions channel their profits back into serving members. This accounts for lower interest rates on loans and also higher rates paid for savings and other investments.

Credit unions exist to serve their members. By offering personalized service, lower costs for borrowing and higher interest payouts on investments, this option for personal financial accounts can help people make their money work harder for them.

To learn more about the advantages of becoming a credit union member, visit the Credit Union of Texas online at www.cutx.org.

About Credit Union of Texas
CUTX is owned by its members, and operated in accordance with the laws governing credit unions in the State of Texas. As a member, your deposits are federally insured by the National Credit Union Administration, a United States government agency.