Skip to main content

Why Now Is A Great Time To Consider A Credit Union Credit Card

Why Now Is A Great Time To Consider A Credit Union Credit Card Getty

Table of Contents

Show more

The not-for-profit nature of credit unions means your small, local credit union may not be filling your mailbox or Google feed with ads, but that doesn’t mean you should overlook them. Throughout their 115-year history in the U.S. credit unions have existed to serve their members. This includes offering better rates and terms to their members.

During this season of higher inflation and rising credit card debt, switching to a credit union as your card provider may be an excellent choice for your household finances.

Credit Union Credit Cards vs. Bank Credit Cards

Banks and credit unions are both financial institutions that issue credit cards. The primary difference is that anyone can apply for a bank credit card, while credit union credit cards are only available to credit union members. In most cases credit unions require that you deposit at least $5 as a member share in order to join, and that you meet other credit union membership requirements.

Although many credit unions do offer some card rewards, they do have a reputation for offering lower rewards than bank cards. The trade-off is that they often offer lower APR as well.

Read Complete Story HERE

Comments

Post a Comment

Please no profanity or political comments.

Popular posts from this blog

Mortgage Rates See Biggest Decline in a Year; Applications Rise

WASHINGTON–Mortgage rates saw the biggest one-week drop in over a year last week, causing the first increase in mortgage demand in a month, according to new data. Total mortgage application volume rose 2.5% last week, compared with the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) decreased to 7.61% from 7.86%, with points falling to 0.69 from 0.73 (including the origination fee) for loans with a 20% down payment. The Rate Driver "Last week's decrease in rates was driven by the U.S. Treasury's issuance update, the Fed striking a dovish tone in the November FOMC statemen
Post a Comment
Read Complete Article HERE>»

Growing Delinquencies, Especially in Auto Loans, Can be Seen in New CUNA Report

MADISON, Wis.–Ongoing increases in delinquencies, especially in automobile loans, can be seen in the new CUNA Economic Update . According to CUNA Chief Economist Mike Schenk, the report shows: Mortgage delinquencies. With data obtained by Equifax, CUNA economists said they have found “slight upward movements” in mortgage delinquency rates.   Credit card delinquencies. Bigger increases in delinquency rates relative to the cyclical low – as seen during the COVID-19 pandemic – is concerning, said Schenk.   Auto loan delinquencies: Data shows a “dramatic” increase in delinquency rates among institutions such as auto financing companies.  CUNA Forecast   CUNA’s economists are forecasting delinquency rates will peak at 1% by the end of 2024.
Post a Comment
Read Complete Article HERE>»

Speakers & Sessions For NCOFCU 24 San Antonio TX.

National Council of Firefighter Credit Unions Inc (NCOFCU)  Speakers and Schedule! It is the National Council of Firefighter Credit Unions (NCOFCU) "GO TO Conference" for credit unions serving first responders! Who should attend? CEO's, VP's Directors and Staff See What's Planned Register Here! Bring your spouse, bring a guest to enjoy San Antonio, TX River Walk 4 Days Golf 16 + Sessions Alamo Reception Closing Dinner Right on the San Antonio River Walk Several Networking events Open Forums Idea Exchange Events Panel Discussions of CU Leaders National & Industry Speakers Trends in First-Responder Credit Unions Director & Volunteer Sessions Exhibitors ShowcaseAnd  So Much More! HOTEL REGISTER HERE
Post a Comment
Read Complete Article HERE>»