There has never been a better time to join a credit union than now. Credit unions are not-for-profit financial institutions where each member shares ownership in the company. Becoming a 1st Advantage member means you have a voice in how we conduct business and our earnings are passed along in the form of higher dividends and lower loan rates. Credit unions have volunteer board of directors that are chosen by our members. In addition, because credit unions are operated on a non-profit basis, they also offer extra perks and incentives to their members. Bye bye big bank and hello credit union!

Here are the top 5 reasons you should switch to a credit union:

1. Big bank convenience

A credit union will offer you all of the same products and services of a big bank. Beyond offering the basics like savings and checking accounts, a credit union is an excellent choice if you are looking for an auto loan, mortgage, credit card, or planning for retirement.

2. Lower loan rates and higher dividends

Because a credit union is not-for-profit financial institution, earnings are passed along to the member-owners in for form of higher dividends on deposits and lower loan rates.


3. You’ll pay fewer fees

The overhead cost for a credit union are typically lower than a big bank which means there are far less expenses to pass on to members. As a result, you will not be paying as much in fees as you are used to once you switch your accounts to a credit union.  For example, 1st Advantage offers a Free Advantage Checking Account with no minimum balance requirement and free access to online, mobile and telephone banking.


4. Extra perks, benefits and discounts

Many credit unions offer many additional perks, benefits and discounts to members. Just to name a few, 1st Advantage members can save money on a car purchase, tax preparation services, insurance, and at local attractions.

5. Personal service you’ll trust

At 1st Advantage our colleagues are your financial advisor and will work with you to develop personalized solutions that fit your banking needs and lifestyle.  This is a great example of how credit unions bring the philosophy of “people helping people’ into the lives around us.