skip to content

What Are the Benefits of Using a Credit Union Over a Big Bank?

blackboard listing the pros and cons of a credit union over a big bank

If you’ve never used a credit union for your banking needs, it may be time to start! People don’t often realize that there are some major differences between banks and credit unions, and tend to think of both financial institutions as one in the same. However, there is a significant difference between big corporate banks and local credit unions: banks are for-profit companies, while credit unions are not-for-profit organizations focused on creating the best possible service experience for you. Here are some of the top things to think about when choosing whether to conduct financial business with a bank or a credit union.

What Are You Really Getting From a Big Bank?

Quick- think back to your first banking experience. Chances are, you opened a checking or savings account so you could cash or deposit checks from your high school job. At the time, you probably chose a bank based on its convenience, or perhaps because your parents or other family members had accounts there. However, when you try to think about what your bank has done for you over the years, the answer may be “not much.” To large corporate banks, you’re just an account number on the teller’s screen. It is hard, if not impossible, to establish a meaningful relationship with your bank’s staff- this may not seem like a big deal at first, but if you’re ever in a position where you need extra support or guidance with financial decisions, it could make a world of difference.

A credit union, on the other hand, offers a much more personal experience. The small size of a credit union allows staff members to form lasting professional relationships with their members. The associates at a credit union are available to speak with you in person about your accounts, make recommendations based on your unique needs and circumstances, and treat you like an actual person, not a number.

Banks or Credit Unions: Which is Better?

To determine which financial institution makes the most sense for you, it’s important to ask yourself what matters most to you: if you prefer a personal touch and you’d rather speak to a human being rather than pressing buttons to access automated phone systems, a credit union may be your best bet. Your credit union representative is available to listen to your questions and concerns and provide top-tier customer service for all your banking needs. Not only that, but establishing and growing a relationship with your credit union associates creates an important foundation that can help carry you through all the financial milestones in your life: from securing an auto loan to purchasing your first home to planning for your retirement, your credit union can help you prepare for all the financial goals you wish to achieve in the future.

What You Need, When You Need It

White River Credit Union was founded on the principles of excellent member service and a strong sense of community. We proudly assist individuals and businesses in Enumclaw and surrounding areas with all their financial needs. You are the most important part of our organization, and we do all we can to show it every day. If you’re ready to say goodbye to big corporate banks and experience a credit union, call White River Credit Union today at 360-825-4833. We look forward to working with you!