Why Credit Unions Offer Better Value

When the economy is strong and your personal finances are flush, you might not mind paying a couple of extra dollars here and there each time you use an ATM or a monthly fee to maintain your emergency fund. But even in the best of times, these fees can add up. And now, just as many consumers are struggling to make ends meet, miscellaneous bank fees are reaching all-time highs.*

If you're wondering how you can take advantage of convenient financial services without breaking your budget, take a closer look at the outstanding value credit unions offer.

Keep Your Cash
According to Bankrate.com, a bank customer pays about $3.43 on average when using an out-of-network ATM; this includes fees to both the customer's own bank and the bank that owns the ATM. This means that when customers withdraw $40, they are paying roughly 8.5% in transaction fees simply to retrieve their own money.

Unlike banks, which compete with each other, credit unions work cooperatively with each other to ensure that their members enjoy the best value possible. This means that no matter where you go, when you use the CO-OP^® and Allpoint^® ATM networks, you will enjoy surcharge-free transactions.

Grow Your Accounts
In 2008, monthly service fees charged by banks on interest-bearing accounts hit a new average high of almost $12; the average minimum balance required also rose, to 4% over the previous year or a record high of $3,461.84.*

Credit unions, however, understand that it's hard to build a nest egg if your account is hit with maintenance fees every month. To help you get ahead, we charge no monthly service fees on our checking accounts. Similarly, we recognize that high minimum balance requirements will not help your financial situation if the unexpected happens and you need to tap your accounts. That is why we require no minimum balance on our First Class checking accounts.

Just a Sampling
Unlike banks, which are in business to earn profits for their shareholders, credit unions exist to help their members reach their financial goals. In addition to providing you with surcharge-free ATM access and no fees on your checking account, we offer lower rates on loans and higher rates on savings accounts than banks generally offer. We also offer:

• 24-hour phone and online account access.
• Online Bill Pay.
• Remote Deposit.
• A network of more than 55,000 surcharge-free ATMs.
• Signature Rewards.

Simply stop by, visit us online at www.wingsfinancial.com or call (800) 692-2274, option 2, to learn more about how you can fully realize the value of your membership with Wings!

* Source: Bankrate.com.

This publication does not constitute legal, accounting or other professional advice. Although it is intended to be accurate, neither the publisher nor any other party assumes liability for loss or damage due to reliance on this material. Images may be from one or more of these sources: ©Jupiterimages, ©Getty Images, ©iStock, ©SnapVillage. ©2009 Wings Financial Federal Credit Union. All rights reserved.