Cleveland — Credit unions remain robust despite recent woes in the banking sector, and among those in Northeast Ohio which have been evaluated, 85 percent earned four or five stars from Bauer Financial – who also rates banks.
The Plain Dealer conducted an analysis on 110 credit unions operating in Cuyahoga, Summit, Lake and Lorain counties; of these 110 institutions, six have closed or merged since September.
Credit unions provide members with a safe place to save and borrow at reasonable rates, while making an impactful impactful statement about themselves and their communities. Joining is easy – membership could be available to anyone living, working, worshiping or attending school in Cuyahoga County as well as Delaware, Franklin, Geauga Lake Licking Madison Mahoning Medina Pickaway Portage Summit Trumbull Union County Ohio.
Credit union membership provides access to exclusive discounts and offers. However, we are aware of scammers posing as financial institutions to scam our members into divulging account information or sending money via peer-to-peer payment apps. We take these incidents very seriously and have measures in place to safeguard our members – such as protecting login credentials and PINs online banking login credentials and PINs for online banking login credentials and PINs for protection purposes.
Be it buying your dream home, taking an unforgettable trip, or paying for college; your credit union is here to assist. Operating at reduced costs compared to for-profit institutions allows it to pass along those savings to you in terms of competitive loan and savings rates.
The National Credit Union Administration requires all insured Credit unions to file quarterly (5300) data reports. This allows you to see how your Credit Union compares against others both locally and across the nation.
Please be wary of increasing calls and texts attempting to gain your personal data such as online banking login credentials, credit or debit card numbers, social security numbers and PINs by fraudulent means. Never disclose such sensitive details over the phone or text messaging.
No matter your financial goals – be they saving for retirement or purchasing your first car – our competitive rates and services make achieving them simpler. And because your credit union is also your home, membership allows for even greater convenience as a source of financial security!
Credit unions are protected to the tune of $250,000 by the National Credit Union Share Insurance Fund administered by The National Credit Union Administration, better known as NCUA. This insurance is guaranteed by the full faith and credit of the US government.
CUO has recently noted an increase in scammers posing as financial institutions and asking members for personal information such as their Online Banking login credentials, Social Security numbers, PIN numbers etc. Please be aware that financial institutions will never request this type of data via telephone calls or texts.
Credit unions offer members a variety of investments to assist them with meeting their financial goals, which can help attract new business, generate non-interest fee revenue and provide an exceptional member experience. Promoting these services helps attract new members while simultaneously increasing non-interest fee revenue and offering a comprehensive member experience.
Saving for college education or retirement is an integral component of financial security, which is why our Savings, Christmas Club and Certificate accounts offer you a way to meet those goals.
Federal regulations specify a maximum limit on withdrawals and transfers in any statement period from savings and money market accounts, so please refer to your membership agreement for full details.
Credit unions enjoy the unique non-profit status that allows them to offer lower loan interest rates and provide higher dividends on savings accounts than banks can. Furthermore, these financial cooperatives serve their community by offering various financial services.
Being part of your credit union’s Board of Directors can be an immensely satisfying experience. Although volunteer positions, this offers numerous opportunities to attend educational forums and remain up-to-date on current trends and developments within the credit union industry.
Scammers are constantly finding new ways to con account holders out of money. Therefore, it is imperative that account holders remain vigilant and never disclose personal information over the phone or through text messaging – such as login credentials for online banking accounts, credit or debit card numbers or PIN numbers.