Banks in North Carolina are for profit organizations and they need to please stockholders. Due to this, they apply high fees and low savings interest rates. They don’t care about their clients, because their main interest is to attract as many as possible and apply the mentioned features. However, this doesn’t have to be this way, because there are other possibilities out there. As a matter of fact, people need to conduct research before choosing a financial establishment and make a list with aspects that matter the most to them. Afterwards, it is easier to compare fees and interest rates, services and take the final decision. Knowing what to expect and something about the institution helps better understand what they stand for.
This brings us to the Winston Salem federal credit union. This cooperative is different than other institutions and this is because it is non-profit. The main idea is not to please stockholders, but to please members. This allows them to offer better customer service, lower fees and interest rates and improved features. To become a member there are some requirements, but they are not as strict as some believe. It is not about an exclusive club, but a close community that assists every member into pursuing their dreams and finding support when needed. In some situations, it is enough to live within a certain area, worship there, work or study and such. Unions are spread everywhere, because they have developed considerably throughout the years.
Another major minus of banks in North Carolina is their lack of customer service. Representatives are not always friendly or willing to help and clients don’t know what to choose or what to do and even take wrong decisions. In some situations, they simply point out they can’t help, or some simply don’t care enough to do it. Unlike them, credit unions are friendlier and more accessible. At all times, someone will be available for your inquiries and you will discuss with a member and not a robot. Being smaller and focused on the community, they are able to stay connected with the neighborhood and provide excellent feedback. You can get in touch and ask about membership, what requirements exist, if you need to make a deposit, what services they have available and more.
Resource Box: If you think that banks in North Carolina are your main option for financial services, then you need to investigate the topic even more. Feel free to research the Winston Salem federal credit union (https://www.allegacy.org/) and discover the features and benefits involved and how you can have access to them. Membership is required, but you might be able to apply.
