Switch Kit
Why Switch to a Credit Union?
Credit unions are not-for-profit and owned by their members, not outside investors. So for credit unions, raising fees is a last resort, not a first resort. And certainly with the public outcry that has ensued since Bank of America announced its $5 a month debit fee, credit unions are doing all they can to hold the line on fees.
Many credit unions around the US participate in extensive, surcharge-free ATM networks. For example, thousands of credit unions are on The CO-OP Network, which has a nationwide network of 28,000 ATMs that allow the members of these credit unions to access their funds without incurring a surcharge. These ATMs can be found at the credit unions, retail locations, including 5,500 7-Eleven stores, as well as Costco, Walgreens and other outlets.
Further, 98 percent of all credit union members have access to an ATM or debit card through their credit union; 96 percent have access to an ATM via their credit union. As for home banking (via web-based services), 97 percent of all credit union members have access to this popular and convenient service.
Thousands of credit unions around the country also participated in "shared branch" networks. As the term suggests, they share their physical branch locations to provide their members with more convenience and accessibility. Members of these credit unions use the other credit union's branch just as if they were using their own.
The shared branching concept is unique to credit unions, and a perfect illustration of our industry's co-operative principles in action. You would be hard pressed to find banks sharing one another's branch facilities.
