Novation Credit Union is a financial cooperative providing savings and checking accounts, loans, loans with fixed rate interest and investment income opportunities, investment services, insurance products, debit cards and ATM services to communities throughout Minnesota.
Credit unions are non-profit organizations owned and run by their members. Credit unions provide many of the same banking services found at banks but tend to be cheaper due to lower costs for savings accounts and loans, and often provide higher savings account interest rates and lower loan fees than their bank counterparts. Many also provide educational sessions on topics like home buying and personal finances for members.
Novation Credit Union is a financial institution offering savings and checking accounts, auto loans and mortgages at competitive rates. Their customer service rating is outstanding while they have mobile and online banking features to make managing finances simpler for their customers.
Credit unions provide students with competitive rates and flexible repayment terms at attractive interest rates, making them an excellent source for student loans. Not for profit organizations like these prioritize providing outstanding services to borrowers as opposed to profiteering. Credit unions have an established history of supporting education and their local communities – an indicator of trustworthiness for student loan providers.
Credit unions are insured by the National Credit Union Share Insurance Fund, backed by the U.S. Treasury and providing similar protection to that provided by FDIC insurance. Not all federally chartered or participating in NCUSIF credit unions provide similar coverage; to compare deposit account rates click here.
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