Top 10 Credit Union Benefits for Millenials
1. A great place to start building credit. Several of the young people we spoke to felt particular gratitude to their credit union for helping them establish a good credit history. This includes more than just receiving a piece of plastic – they also received good advice on the responsibility that comes with credit.
2. A resource for fulfilling dreams. Whether it’s buying a car or home, traveling, or building a business, it’s a fact – credit unions help Millennials fulfill their dreams.
3. A resource for financial advice and an eagerness to help. Repeatedly, we heard that credit unions are a great source for financial advice. And, the help is proactive. As one person said, the staff “Knows things I need, even before I do.”
4. A trusted partner. Another vey common theme: Millennials told us they felt that their credit union trusted them. They saw their financial institution as their partner.
5. Easy access to ATMs and branches. Finding surcharge-free ATMs and branches is no problem. CO-OP is making it even easier for Millennials (and everyone else) with a revamped locator that can now be found at the campaign website at: http://co-opcreditunions.org/locator.
6. Account access via on-line and mobile. We were told by at least one member that she had yet to step inside her credit union’s branch. This was enabled in part, of course, by on-line and mobile account access technology that can compete with anyone.
7. Member service is second to none. Every testimonial from the Millennials we spoke to cite the exceptional member service of credit unions. Several have close relationships with the branch manager at their local institution.
8. Compares favorably with banks. The trust, ability to anticipate needs and personal service that they experienced at credit unions was just not the same at the banks they dealt with.
9. Commitment to philanthropy. Doing business with an institution that gives back to its community is important to Arianne Schumacher of California. Her credit union’s “commitment to improving and supporting San Diego County is something I admire,” she told us.
10. Great rates! Kyle Coleman of Georgia could have been speaking of any credit union when she said “Their rates can’t be beat.”