The Money Coach
  • About
    • Meet Lynnette
    • Media Kit
  • Get Help
    • Money Coach University™
    • Books
    • Financial Coaching
    • Speaking
    • The Money Coach Recommends™
  • Contact
  • Building Wealth
  • Investing
  • Credit Scores
  • Student Loans
  • Paying for College
  • Saving Money
  • Real Estate
  • Credit Card Debt
No Result
View All Result
The Money Coach
  • About
    • Meet Lynnette
    • Media Kit
  • Get Help
    • Money Coach University™
    • Books
    • Financial Coaching
    • Speaking
    • The Money Coach Recommends™
  • Contact
No Result
View All Result
The Money Coach
No Result
View All Result

The Smart Way to Join a Credit Union

Lynnette Khalfani-Cox, The Money Coach by Lynnette Khalfani-Cox, The Money Coach
in Investing
Reading Time: 2 mins read
The Smart Way to Join a Credit Union
9
SHARES
158
VIEWS
Share on FacebookShare on Twitter

If you’ve thought about switching banks to skirt extra fees or just for better services, don’t overlook the option and benefits of joining a credit union too.

Credit unions are known for providing a more personalized experience and most offer the same – though not all – of the financial products that many banks offer.

Credit unions are non-profit organizations and owned by their members so they’re not profit-driven entities. Credit union advocates say credit unions even take the time to educate you about the best financial products. They are also able to pass along some attractive loan rates to all members.

Here are the steps to take to join a credit union:

Find out which “field of membership” you fall under.

Credit unions divide up their members into small groups called “fields of membership”. This includes by workplace, geographic area, school, place of worship and fraternal organization. When you fill out the initial application to join, you’ll need to select one of these fields.

Choose a credit union in your area.

Visit the Credit Union National Association website and click on the link that says “Consumers.” From there, you can perform a simple search based on your zip code and affiliation (field of membership). You can search by distance from your zip code so you are choosing a branch that is as close to your home as possible. Run the search and you’ll see a listing of all credit unions in your area, and their basic requirements. Click through to the main website to find application forms and other information about the branch.

Learn about services available.

While most credit unions offer the same range of products as a bank, some do have limited offerings. Services that most credit unions have include free savings and checking accounts, fee-free ATMs, online banking and bill pay options, and auto and home loans. Find out exactly what the service offerings at your credit union are so you aren’t missing out on something that you really need.

Fill out a formal application.

Many credit unions let you fill out the initial account application online, but you can also fill out the form in-person. You’ll need to decide whether you want to open an individual account or joint account, agree to the disclosure, and provide personal identifying information including a Social Security number, IRS citizenship status and identifying documentation like a driver’s license or passport.

Wait for a response.

Most credit unions will review your application and verify your account within a few business days. If you submit your application in person, they can review it on the spot and get you set up with your account right away. Setting up your account in person will also give you a chance to have pressing questions answered and learn more about the credit union’s policies and services from a dedicated advisor.

Overall, it’s really not complicated to join a credit union.

And even though some people are closing their bank accounts in a switch to credit unions, that’s not required. What is necessary is that you find the best institution possible to adequately and affordably service your financial and banking needs.

If you want to learn more about credit unions, or are undecided about joining one, read Are Credit Unions a Good Alternative to Banks?

Tags: Credit UnionsJoining a credit union
Previous Post

Are Credit Unions a Good Alternative to Banks?

Next Post

Can I Remove A Car Repo From My Credit Report?

Related Articles

Understanding the Hype About SPACs on This Episode of ‘Make It Make Cents’
Investing

Understanding the Hype About SPACs on This Episode of ‘Make It Make Cents’

by Lynnette Khalfani-Cox, The Money Coach
cryptocurrency definitions AskTheMoneyCoach
Crypto

Cryptocurrency Cheat Sheet: A Glossary of 30 Crypto Terms You Should Know

by Lynnette Khalfani-Cox, The Money Coach
A Beginner’s Guide to Understanding and Investing in Cryptocurrency
Investing

A Beginner’s Guide to Understanding and Investing in Cryptocurrency

by Lynnette Khalfani-Cox, The Money Coach
Bitcoin
Investing

5 Reasons I Love Cryptocurrency

by Lynnette Khalfani-Cox, The Money Coach
Teri Ijeoma
Investing

Investing During COVID-19: Tips from TradeandTravel.com CEO Teri Ijeoma

by Lynnette Khalfani-Cox, The Money Coach
Saving and Investing - One Won't Make You Wealthy
Investing

Saving and Investing – One Won’t Make You Rich

by Guest Blogger
Teri Ijeoma
Investing

An Important Financial Update …

by Lynnette Khalfani-Cox, The Money Coach
Is Trading Stocks the Side Hustle You’re Missing Out On?
Investing

Is Trading Stocks the Side Hustle You’re Missing Out On?

by Lynnette Khalfani-Cox, The Money Coach
money apps
Investing

Five Money Apps That Will Help You Start Investing

by Guest Blogger
Next Post
Can I Remove A Car Repo From My Credit Report?

Can I Remove A Car Repo From My Credit Report?

About

Lynnette Khalfani-Cox, The Money Coach®, is a personal finance expert, speaker, and author of 15 money-management books, including the New York Times bestseller Zero Debt: The Ultimate Guide to Financial Freedom.

Lynnette has been seen on more than 1,000 TV segments nationwide, including television appearances on Oprah, Dr. Phil, The Dr. Oz Show, The Steve Harvey Show, Good Morning America, The TODAY Show and many more.

Quick Links

  • Money Coach University
  • Lynnette's Personal Site
  • The Money Coach Corporate Site
  • Video Portfolio
  • Privacy Policy

All information on this blog is for educational purposes only. Lynnette Khalfani-Cox, The Money Coach, is not a certified financial planner, registered investment adviser, or attorney. If you need specialty financial, investment or legal advice, please consult the appropriate professional. Advertising Disclosure: This site may accept advertising, affiliate payments or other forms of compensation from companies mentioned in articles. This compensation may impact how and where products and companies appear on this site. AskTheMoneyCoach™ and Lynnette Khalfani-Cox, The Money Coach® are trademarks of TheMoneyCoach.net, LLC.

©2009-2022 TheMoneyCoach.net, LLC. All Rights Reserved.

No Result
View All Result
  • Meet Lynnette
  • Money Coach University™
  • Books
  • Financial Coaching
  • Speaking
  • The Money Coach Recommends™
  • Media Kit
  • Contact

©2009-2021 TheMoneyCoach.net, LLC. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist