What Is A Credit Union?
It's a common question, and it's important to understand what credit unions are so that you can see why they're so beneficial.
Unlike banks, credit unions are cooperative, membership-owned financial institutions designed to provide secure, convenient, and affordable loans and other financial services. Anyone in Summit County, Ohio, can join BFG Federal Credit Union - you'll enjoy the benefits of a not-for-profit financial institution where members always come first.
Credit union loans are beneficial to members because they offer substantially lower rates than are available at commercial banks and financial institutions.
When you ask, what is a credit union, remember that one of the primary purposes is to serve its membership base and be community-oriented as a non-profit enterprise. That translates into lower rates on credit union loans, distributed dividends, fewer fees, and much more.
For instance, what exactly is a credit union, and what are the benefits of utilizing a local credit union in Akron, Hudson, or other surrounding communities? Credit union benefits are actually quite impressive, making them a smart decision for people from all walks of life.
All of this means that with an Akron credit union, consumers can enjoy lower fees, a wealth of free services, consistently lower loan rates, and competitively priced deposit rates. For credit unions, the goal isn't to make the highest profit off of their members, but rather to give them better options on everything from car loan rates to basic checking accounts. Summit County residents can put their full faith into a credit union such as BFG Federal Credit Union, which has more than 75 years of experience, and today has more than 29,000 members and $164 million in assets.
BFG Federal Credit Union strives to offer all of the positive traits, accessibility, and personalized care of a community bank, while working hard to provide its members with key financial benefits and accessible and common-sense solutions. This includes a full range of checking and savings account options, debit and credit cards, insurance coverage, mortgages, and home equity loans, and often the best car loan rates Akron has to offer. Members know that when they utilize BFG, they'll be making their money go farther and doing more with less.
BFG Federal Credit Union members typically pay fewer fees and receive higher dividend rates. They'll have more financial options accessible for themselves and their families, enabling them to meet both their immediate needs and their long-term financial goals and objectives. Additionally, members can rest in the security of full federal insurance backing from the National Credit Union Administration.
BFG Federal Credit Union works with individuals and businesses across Summit County, Ohio, including Akron, Cuyahoga Falls, Hudson, Twinsburg, and Stow.