Why choose a Credit Union?
Thursday, October 15th is International Credit Union Day, so we want to share a few of the many reasons why you should choose a credit union.
Credit unions are not-for-profit financial cooperatives whose earnings are paid back to members through higher savings rates and lower loan rates. Credit unions have always focused on people, dreams, and results, with that philosophy manifesting itself in three main aspects that credit unions provide to every member: voice, benefits, and values.
Voice: As a credit union member, you can vote on who is elected to run the credit union. Members hold decision-making power and elect a local, volunteer Board of Directors which represents the membership in making decisions and upholding policies. Each member has one vote and is invited to participate in annual meetings that affect how the credit union is run.
Benefits: Income made by a credit union is invested in various member benefits, such as higher dividends and lower interest rates. Plus, fees tend to be lower. Over the last decade, Wisconsin credit union members have saved over $1.76 billion due to fewer and lower fees, lower rates on loans, and higher rates on savings (Dennis, 2020).
Values: Credit unions are community-centered organizations dedicated to enriching the areas they serve. They also provide local in-house underwriting and mortgage services, so you are working with a lending expert who will get to know you and the property you own or want to buy, and help find a financial solution that works best for your needs.
Why choose a credit union? Because members come first. At Kohler Credit Union, we focus on building relationships, strengthening communities, and fulfilling dreams.
Visit our Become a Member page or call 888.528.2595 to learn even more about the benefits of credit union membership. You are eligible for membership at Kohler Credit Union if you live or work in Sheboygan, Calumet, Fond du Lac, Manitowoc, Milwaukee, Ozaukee, Washington, or Waukesha County.
References
Dennis, S. (2020, January 21). Wisconsin’s credit unions save members $284 million in 2019, $1.76 billion in last decade. The Wisconsin Credit Union League. https://www.theleague.coop/news/news-detail/2020/01/21/wisconsin-s-credit-unions-save-members-$284-million-in-2019-$1.76-billion-in-last-decade#:~:text=Wisconsin's%20Credit%20Unions%20Save%20Members,%241.76%20Billion%20in%20Last%20Decade
