Benefits of Joining a Credit Union

Credit Unions can be a great alternative to traditional banks. Credit Unions have different business models and are not-for-profit –meaning they pass profits to the members, not bank shareholders. Credit Union Benefits include savings advantages, better member service, accessibility and more:

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Higher Savings, Lower Loans

Credit unions generally have higher dividend rates on savings accounts and lower rates on loans. US News reported that the five-year loans for new cars at banks have an average interest rate of 4.88 percent, compared with 2.74 percent for credit unions.

Members are Owners

One of the major benefits of a credit union is that the members are also the owners of the company. The possible disconnect between shareholder and customer is never an issue. All decisions are made to benefit both the owners and the members.

You’re Insured

At PFCU, the members are insured to be protected in case any issue should come up. The National Credit Union Administration financially backs nearly every credit union to protect the members. We also offer additional coverage through Excess Share Insurance (ESI) so accounts are insured up to $500,000.

Credit Unions are Co-operative

Personal Touch

Credit unions are smaller and more localized than a bank, so the members are treated with a more personal touch. Concerns can be resolved with more time and detail given to each member.

Financial Literacy Programs

Another credit union benefit is the extra time and care that employees can put toward helping the member. Financial literacy programs help educate members on how to best control their finances and create wealth. There are also many resources such as a savings calculator and calculators for things like mortgages and investments. PFCU offers Clarifi financial counseling, where you can find tools, videos and personalized guidance to grow your finances. We even offer related events and classes.

Want to learn more? Call us today at 800-832-PFCU, Become a Member, or visit your local branch.

Don’t live in the Philadelphia or surrounding areas? Find a credit union in your area

"In straying from the traditional life path, I've always had to be strategic with my finances so I happily welcomed a meeting with Erin, a money expert at PFCU. Aside from learning about her life story, I gained an understanding of the local roots of PFCU, learned that it's the institution of choice of some of the people with whom I've previously met and also became genuinely interested in their Kasasa cash back checking accounts! I'd recommend checking them out for anyone in the Philly area looking to build their savings!"

ROB - Robs10kFriends.com

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National Association of Federal Credit Unions 
PFCU is a proud member of the National Association of Federal Credit Unions
National Credit Union Administration 
Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. National Credit Union Administration, a U.S. Government Agency.
Equal Housing Lender 
We do Business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act.

We provide links to external websites for your convenience. Philadelphia Federal Credit Union does not endorse and is not responsible for their content, links, privacy or securities policies.

Please note that the amount of money contained in your investment accounts are considered non-deposit products and therefore, are not NCUA insured, not credit union guaranteed, may lose value, are not guaranteed by any government agency. Securities, Financial Planning and Insurance products are offered through LPL Financial, and its affiliates, Member FINRA, SIPC. LPL Financial and Philadelphia Federal Credit Union are independent entities.