It’s no secret that credit unions are known for lower loan rates, higher deposit rates, lower fees and above all--better customer service.  Our focus is on pleasing you, the member, not Wall Street.  With the mounting bank failures in Georgia, it’s no wonder more and more people are turning to credit unions to protect their funds.  Perhaps now is a good time to reevaluate your financial health and experience the benefits of credit union membership.

 Still not convinced there’s a better place for your money?  Consider these ten important facts:

1.       Credit Unions are not for profit organizations.  We return our profits to the members of the credit union in the form of better rates, products and services.  Banks on the other hand are FOR PROFIT corporations and their profits have been used to fund huge management bonuses, private jets and trips to Vegas.

2.       Your money is safe. Your funds (up to $250,000 per individual) are backed by the National Credit Union Administration (NCUA).  No member has ever lost a penny of federally-insured deposits held in a credit union.

3.       Credit unions operate within what’s known as a “field of membership”. You should think of it as an exclusive club you can belong to. Credit Unions typically serve members who share something in common.  Banks on the other hand, can serve anyone, which often leads to its customers being treated like just another number.

4.       Credit unions are smaller than the mega banks allowing us to serve you better.  We get to know our members by name and treat everyone like a close friend or family member.  Our focus is on pleasing you, the member, not Wall Street.  Due to their size, it’s difficult for banks to serve their customers’ needs on such a personal level.  Instead, banks rely heavily on impersonal telephone and computer systems instead of personal interaction to try to serve their customers.  This form of “customer disservice” has not gone unnoticed.  MSN Money’s third annual Customer Service Hall of Shame survey lists the top-ten offenders.  Three of them are mega banks.  See for yourself here.

5.       Credit unions understand the needs of borrowers.  We consider each request individually and work to tailor solutions that serve your best interest.  Credit unions steered clear of subprime lending and remain committed to sound lending principles that have kept us on solid ground.  We simply evaluate what you need and find what works best for you.  Credit unions serve your interests, banks serve their own.

6.       Credit unions are not dependant on fee income.  We don’t create junk fees in order to provide services to our members.  Whenever possible, a credit union will absorb fees in an effort to provide valuable services at reduced or no cost to the member.  It’s another one of those ‘returning our profits’ benefits.  Banks are dependant on fee income and take every opportunity to charge a fee, or at least it seems that way. 

7.       Virtually every service a bank provides can be provided by a credit union as well. Online banking with Bill Pay, e-Statements and e-Bills, more than 100,000 ATMs nationwide, branch locations, call center representatives, and even drop boxes!  Utilizing these services along with direct deposit reduces costs and the need for visiting a branch (even though we like to see you).  We concentrate on providing good services whether in person or online.  Banks seem to concentrate on building more expensive branches on every corner – many times right next to another bank!

8.       Credit unions operate democratically.  Every member has a voice in how the credit union is run.  Unlike at a bank, your vote counts.   Banks only allow shareholders voting privileges.  Ironically, you do not have to be a bank customer to be a shareholder.

9.       Credit unions “give back” to their members and the community they serve.  Whether it’s financial education, counseling, or supporting local charities such as Children’s Miracle Network or Habitat for Humanity, credit unions are there.  We’re here to help and do the right thing.

10.   Family and friends are always welcome --- we treat everyone the same, no matter how much money you have. Yes, even kids!  And once you’re a member, you’re a member for life!

 Not a member? Joining is easy!           About us              Locations and ATMs

*Contest Rules: NO PURCHASE NECESSARY. Sweepstakes begins 3/1/2010 and ends 4/1/2010. Open to any current CDC FCU member or non-CDC FCU member who is 18 years of age or older. Winner will be chosen at random from all eligible participants. Odds of winning are one in 16,000, and will depend upon the number of eligible entries/participants. Contact the credit union at CDC Federal Credit Union, Attn: Difference Sweepstakes, P.O. Box 49169, Atlanta, GA 30359. Entries must be postmarked by midnight April 1, 2010 to participate.