The 4 Biggest Credit Union Myths

According to the research…

98% of non-members have heard of credit unions.

72% of non-members aren’t likely to consider a credit union.

But…

75% of non-members would consider joining a credit union after learning more about them.

So let’s break it down and talk about the 4 Biggest Credit Union Myths.

Myth #1: There aren’t enough locations.

Reality: There are big and small credit unions, but just like banks, your deposits at a credit union are insured by the federal government up to $250,000.

Together Credit Union has 26 branches nationwide, including 14 branches in the St. Louis area, PLUS credit union members have access to a CO-OP Network of 30,000 free ATMs and 5,000 shared branch locations, making it easy for you to access your money anywhere.

Myth #2: It will be hard to access my money.

Reality: Accessing your money and accounts has never been easier.

Read more about our access and convenience services, such as eDeposit, IDSafeChoice, No Transaction Fee-ATM locations, and more.

Myth #3: I can’t join a credit union.

Reality: Once upon a time, credit unions were designed to serve a limited group of people, based on a similar interest, occupation, or geographic location. But it’s not like that anymore (since the early 1980’s, to be exact!).

Anybody can join a credit union. You may be eligible based on your employer, where you live, or your family, as most credit unions allow members’ families to join.

Myth #4: Credit unions don’t offer as many services as banks.

Reality: Credit unions offer the same financial products as banks—checking accounts, debit and credit cards, online banking (OnlineAccess), IRAs (individual retirement accounts), mortgages, and auto loans—but because credit unions are not-for-profit, we often offer better rates than banks.

Questions about opening an account or just want to learn more about our loans, mortgages, and other services? Contact us today!