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Money Matters for Cinfed Members

6 Reasons to Choose a Credit Union

Posted on March 25, 2020
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6 Reasons to Choose a Credit Union

6 Reasons to Join a Credit Union by Coach Fin

It’s a long-standing myth that some people still believe: a credit union is an exclusive club with strict membership requirements. While some credit unions are tied to a specific employer or association, that's not always the case. Some credit unions are surprisingly easy to join — you just have to live, work or worship in a certain area.
The credit union concept began more than 150 years ago with a goal of “people helping people.” By pooling their money, people could get loans when they couldn’t get credit in traditional ways. That spirit of cooperation and community remains today. Here are six reasons to check out credit union membership for yourself.

1.

Credit Unions keep it local.

If you like to keep your money local by shopping local, why not borrow and save locally too? Sure, commercial banks have neighborhood branches. But are they headquartered in your city or even your state? The answer is often no.
Credit unions were created to serve communities. That could be a community with a common tie — like an employer — or a geographic community. Credit unions that serve a geographic area are locally owned and operated by its members. When that’s the case, your money stays local. Decisions are made locally.


2.

Credit unions are not-for-profit cooperatives

Banks are in business to earn profits. Shareholders and investors call the shots and reap the rewards. Credit unions are not-for-profit cooperatives designed to serve. When you join a credit union, you become a shareholder. Any profits are reinvested into the membership (you) in the form of better rates and other benefits.
Collectively, credit unions provided more than $12.9 billion in direct financial benefits to their members last year, according to the Credit Union National Association.

3.

Credit Unions offer better rates.

Credit unions typically offer lower rates on loans and higher rates on deposits (like savings accounts and certificates of deposit). Getting a lower rate on a car loan can save you thousands of dollars. Even a slightly lower rate on a home loan could save you tens of thousands of dollars over the life of a loan.


4.

Credit unions are known for personal service

Credit unions often give you that hometown, neighborly feel when you walk into a branch. You get a level of personal service that’s hard to find at a commercial bank. You might see familiar faces or be greeted by name. This makes you feel more at ease whether you’re there for a simple transaction or asking about a major loan.


5.

Credit unions offer valuable solutions

Credit unions build long-term relationships with members and aim to add value to their lives. Beyond accounts and loans, credit union members can get retirement planning, financial education, better insurance rates or score great discounts.


6.

Credit unions offer convenience and national access

Credit unions may feel small and intimate, but they offer the same convenience and access you’d expect from a commercial bank. Online banking, mobile and text banking, and ATMs across the nation give you easy access from virtually anywhere.


See for yourself

Not only is it easy to qualify for membership – it’s also easy to join. Get started with our online application, or by talking to a member of our team to learn more.

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CONTACT CINFED

Cinfed Credit Union
4801 Kennedy Avenue
Cincinnati, OH 45209
(513) 333-3800
Routing #242076656

MEMBER REVIEWS

They always go above and beyond at the Oakley branch and truly care about each of their members. And, I absolutely love their kids' membership program. It makes it fun for them to learn about money... 
— Courtney Snow
Been a member since I moved to the Queen City in 1978. Cinfed has always provided customer service that other financial institutions only dream about. Thank you for almost forty years of outstanding... 
— Tim Grabenstein
I recently became a member here at CINFED and it was the best decision I have ever made. I walked in with tears and despair and left with dry eyes, a smile, and I even received a hug from the branch... 
— Melanie
Earlier this year my much younger sister passed away and with that many obligations were to be met by my husband and myself ..My sister was survived by a daughter and son. We have since then taken on... 
— Vonda
How lucky I am to have Liz Frey managing the office I use! I live in Florida but maintain Cinfed as my main banking office. Everytime I need special help a simple email or call to Liz and it is... 
— Debbie G
Emily Snyder took the best care of my two auto loans. She was professional, courteous and very knowledgeable of the available services for me. She went out of her way to make sure I felt like I was... 
— Sarah Amyotte
I have been member with Cinfed since 1986. The Roselawn Cinfed staff greeted the customer phone calls friendly and polite willing to help you with your needs. They have excellent customer service.... 
— Marian Dudley
I have been a member of CINFED since about 1981 when I was transferred from SLC, Utah with the US Army Recruiting Command and have always received excellent service and support . Hope Dee Dee is... 
— Robert Olguin
I have been a member at the Roselawn Branch for a long time and I couldn't be more satisfied with the customer service. No matter how often I come in with a question or issue and no matter what... 
— Andreya T Williams
I been a member since 1985 and can not imagine banking anywhere else. This credit union as taken care of my every need. 24/7 services is excellent.
— Edward, member since 1985
I have been a Cinfed member for years. I know I can depend on them to provide excellent service. The bill pay on line is great and every time I visit the Florence branch I am met with friendly... 
— Jan Ricks
Closed a loan in 24 hours! Absolutely unheard of! Thanks to the exceptional customer service of LeAnn Rose at the Turfway Branch! She went above and beyond by providing unexpected expedited service! ... 
— Christina Stull
I recently applied for a credit card online. I received a call from Emily Snyder explaining what needs to be done next. It was easy and Emily’s customer service was excellent. Emily is a great... 
— Johnnie Bush

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