Why You Should Break Up with Your Bank, Part 8

Liza Deckelbaum

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Published on 11-07-2017

Categories: Articles

peace of mind with coastal credit union

Why You Should Break Up with Your Bank, part 8

Throughout the year, we will be sharing a blog series highlighting the top eight reasons you should break up with your bank and consider joining a credit union.

Peace of Mind

If you’ve been following this blog series, you’ve hopefully learned a lot about what makes a credit union unique compared to a big bank. Another thing that sets credit unions apart from banks is peace of mind. Credit unions give its members peace of mind in a variety of ways through low rates and payments, excellent member service and so much more.

In this month’s blog, we’re highlighting the top three ways credit unions give members peace of mind.

Say Hello to Fewer Fees

Members can rest easy knowing that fees are significantly less than what you would get at a bank. In fact, many credit unions do not charge transaction fees for checks or withdrawals. Coastal recently eliminated 21 fees, including the overdraft transfer fee and incoming wire fee. “We kept hearing from our members that they were unhappy with fees they were being charged,” says Joe Mecca AVP of Communication for Coastal. “So, we decided to do something about it.”

Incredible Member Service

Credit unions are structured to operate at the best interest of their members, which gives members peace of mind knowing their best interests are at the heart of credit union member service teams. As an example, Coastal understands the complexity of life’s schedules and offers teller services from 7 a.m. to 7 p.m., seven days a week at all branches. Most credit unions also offer flexible overdraft forgiveness programs that can be hard to find at big banks, such as 1 program that reduces member fees to one penny per overdraft if members correct their checking account balance by 11 p.m. that same day.

Better Rates, Affordable Payments

Credit unions offer lower rates than banks so they can focus on what matters: ensuring members are financially healthy. Unlike banks, credit unions are not-for-profit and choose to reinvest profits back into their members and communities. As a result, credit unions typically charge less in fees, offer better interest rates on credit cards, and require lower minimum deposit balances than banks. There are even resources that compare the national average rates for 23 common loans and deposits at banks and credit unions.

 

Who doesn’t want better rates, lower fees and incredible member service? Make the switch to bank better with a credit union today

 

1 Any account that remains negative by more than $10 after 11:00 p.m. will be charged a fee of $31 per overdraft. These charges apply to all checks and automated ACH transactions, as well as debit and ATM transactions on checking accounts that have BounceGuard Plus overdraft coverage. 

Coverage Limit: BounceGuard and BounceGuard Plus coverage is limited to a maximum of three (3) accounts per individual. Individuals are determined by unique Social Security Numbers, not account numbers. All negative shares must be paid within 40 days. Whether your overdrafts will be paid is discretionary and we reserve the right not to pay.

 

 

 

 

 

 

 


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