MDDCCUA Credit Union's Consumer Guide To Financial Management

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What is a Credit Union?

Credit unions are not-for-profit financial institutions. They offer many of the same products and services as banks—including savings and checking accounts, loans, ATMs and online banking—but there are also big differences that can save you money. Credit unions are owned and controlled by their members, not profit-driven shareholders. That means the average credit union can offer better rates and lower fees.

Why should you join a credit union? Reasons to become a member.

  1. Credit unions are focused on people, not profits. Credit unions operate by a “people helping people” philosophy that is hard to find at many other financial institutions. Credit unions exist to serve people–including people of modest means.
  2. Financial education is available to all members. Credit unions help members become better-educated consumers of financial services.
  3. As not-for-profit institutions, credit unions offer competitive rates on credit cards.
  4. Credit unions are available in places where banks typically aren’t, such as community development neighborhoods.
  5. As a member of a credit union, no matter how much money you have on deposit, you have an equal voice in how your credit union is run.
  6. Superior service, convenience, and technology. Credit union members receive the service convenience of today’s technology through telephone and online banking, and many have remote deposit.
  7. Several MD&DC credit unions can help your business with a small business loan.

Ready to become a member?

There are more than 100 credit unions in the DC Metro area. Join one today!

Credit to:

Credit Union National Association

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