Members of Oregon credit unions are not just that, they are owners, because they have voting rights in the board of directors. They supervise all services offered, including credit and debit cards, savings and checking accounts, loans, insurance, investment opportunities and everything the union offers. Even if the union makes a profit, because this happens at a certain point, the earnings are returned to members, but not in the form of money, but as lower fees and interest rates. In some cases, they even lower standards for loans, so that more people have access to them and are able to fulfil their needs and dreams.
Banks Oregon are known to be cold and impersonal, they see clients as opportunities to increase profits and they don’t care about their needs. On the other hand, unions listen to people’s needs and their stories and they go beyond to help them develop and obtain financial products. It is always recommended to compare interest rates and find out which institution offers the most attractive ones. Unions have lower rates on loans and credit cards. People that obtain a mortgage, car loan or such, are able to pay less for it and save money. On the same page, interest rates are higher on savings accounts, meaning people earn money while making a deposit. These features are highly appreciated by members and are among the reasons why they decided to join from the first place. Every person needs to analyze their needs and compare offers to take an inspired decision.
Some believe that Oregon credit unions are not safe or guaranteed and their money are not in safe hands. This is certainly not true, as these cooperatives are regulated and insured and all savings are covered. Members have nothing to worry about and they can ask about this aspect when discussing with representatives, to offer the guarantee. More to it, there are some principles under which unions function. They welcome members of all races, social status, and gender, religious and political affiliations. There is no discrimination, as long as membership requirements are met. Members are the ones controlling the capital and the more money within, the more services are provided. This way, it is possible to take advantage of low fees and interest rates.
Resource Box: Have you compared banks Oregon to other financial institutions? If you want to find out what others have to offer, look into Oregon credit unions (https://www.onpointcu.com/) . On the website you can find out how you can become a member and what services and products are provided.