Are you searching for a new bank or credit union? How do you decide which is the best fit? If you’re interested in becoming a member of your local credit union, Telco Credit Union is a full service not-for-profit financial institution serving over 10,000 members. Serving areas around Tarboro, Rocky Mount, Greenville, North Carolina and the surrounding regions, our sound financial principles and maximum service and opportunities for our member/owners will surprise you. Since 1941, Telco has served its members, whose profits are returned and reflected in our ability to pay higher dividends on savings, offer lower interest rates on loans, and provide expanded products and services at less cost.

If you’ve decided that a credit union will better serve your needs than a bank, congratulations! We think that’s a wonderful decision. But how do you decide which credit union is the perfect match for you? Here are a few tips

  1. Consider the rates and fees provided by a credit union. Credit unions are not-for-profit, so they’ll usually offer better savings and loan terms than a bank would. Don’t rule out small credit unions! Compare checking accounts and savings rates in your area to find the best deal. 
  2. Make sure there’s a local branch and ATMs nearby. This may be one downside of local credit unions – they may not have as many branches or ATMs available for their members. If you rely on in-person banking, choose a credit union that either has the strongest branch or a solid ATM presence where you live. 
  3. Think about the credit union’s customer service. Individual institutions vary, of course, so be in contact with the credit unions that interest you the most, and see what it’s like to communicate with their customer service.
  4. Consider their range of technology. If you only bank in person, this may not be as important for you, but we all know that the world of technology is constantly evolving. Before you shop around, make sure you know what you need technology-wise. 
  5. Make sure you know how your money will be kept safe. Keeping your money safe is of the utmost importance, and at most credit unions, the U.S. government insures funds. This insurance works the same way regardless of the size of the credit union. As long as you stay within federal insurance limits, your money will be safe at a credit union. 

Though these are only a few considerations when you’re choosing your next credit union, they are important ones! If you’re ready to settle down with a local credit union in Tarboro, Rocky Mount, Greenville, NC and/or surrounding areas, contact Telco Credit Union today. We know we’ll be the right fit for you! 

 

 

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