Credit Unions vs. Banks: Who Offers the Better Deal?

When you're shopping for a financial institution, you'll need to consider the trust factor. Who can you trust to keep your money safe while providing the best service, up-to-date products and competitive rates? According to a recent survey, 88% of credit union members trust credit unions over banks.* And, with credit unions offering lower rates on loans, higher rates on savings and reduced fees, it's easy to see why many people prefer to take their financial business to a credit union. Visit www.wingsfinancial.com and compare our rates to other financial institutions. You'll find that Wings consistently beats the competition in both loan rates and savings yields.

Why Choose a Credit Union?
Credit unions are not-for-profit cooperatives, which means they're focused solely on the needs of their members and are owned by the membership. Because credit unions, unlike banks, aren't profit-driven and don't cater to stockholders, they can offer members more money-saving alternatives.

What does it take to join a credit union? You first have to qualify for membership. This is usually based on your employer and sometimes where you live. Many credit unions are expanding their fields of membership so that the credit union difference can be shared with more people. Better yet, once you become a member, you can keep your membership throughout your lifetime, even if you move or switch jobs. Plus, many credit unions encourage you to invite your family members and eligible co-workers to join.

Keeping Your Money Safe
Sixty-two percent of members agree that the greatest credit union benefit is knowing that their money is safe and sound.* Each deposit you make is federally insured by the National Credit Union Administration (NCUA). Under newly passed legislation, each account holder's funds are insured to at least $250,000 until Dec. 31, 2013.** When you trust your money to a credit union, you can rest assured that it will be there when you need it. More information about NCUA insurance and coverage is available at the NCUA Web site, www.ncua.gov.

Experience the Credit Union Difference
The credit union philosophy of "people helping people" reflects the goals of credit unions nationwide to reach people in the community and offer solutions to their financial needs. Wings Financial encourages you to invite your family members and eligible co-workers to join.

*	Source: CUTS Performance Marketing, www.cutspm.com.
**	On Jan. 1, 2014, the insurance coverage will drop to $100,000, excluding certain retirement accounts.

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eMoneyMatters is published by the Marketing Department at Wings Financial Credit Union for its members. It is designed to help maintain communication with members and provide reliable and helpful information that will contribute to each member's overall financial well-being. eMoneyMatters is published at Wings Financial Credit Union, 14985 Glazier Avenue, Apple Valley, MN 55124, (952) 997-8000. While consistent effort is made to ensure the integrity of information contained in this publication, material should not be considered legal, financial or professional advice. The publishers do not assume liability for loss or damage as a result of reliance on this data. Images may be from one or more of these sources: ©Jupiterimages, ©Getty Images, ©iStock, ©Fotolia. Copyright ©2009 Wings Financial Credit Union. All rights reserved.