Why Credit Unions Are Always On Your Side

A Credit Union and a bank may look alike — with both offering checking, loans and other financial services. But you don’t have to look for long to see what makes a Credit Union stand out as a better option for you..

The difference is YOU.

At a Credit Union, you and other members are literally the owners. That’s not just a marketing spin. Our board of directors is comprised entirely of volunteer members who are elected by you and other members, with a priority to serve your financial wellbeing. Banks instead have outside owners who are typically institutional investors with a priority of maximizing profits at the expense of customers.

Ever notice on your account statement that we pay you “dividends” on your deposits? That’s because profits at a Credit Union are returned to you, and this is just one of the ways you benefit. At banks, only stockholders get “dividends” from bank customers, who get less for their savings to generate those extracted profits for investors.

Not for profit, but always for you

Another way we stand out from banks is that loans typically cost you less. Credit Unions can offer loans at some of the best rates available because profits are used to offset loan costs. Not only are there fewer fees, but you also get better and more personalized service since our staff is local — not three time zones away. Your accounts with Ventura County Credit Union keeps your money working in your own community, unlike banks headquartered in other states or countries.

Your dollars and sense

A recent industry study confirms that a household typically saves hundreds of dollars each year with a Credit Union rather than a bank. This is especially evident with auto loans — our most popular loan — where the difference can be thousands of dollars over the life of a loan. Our credit cards also stand out from banks because they deliver better value for you with lower rates but with all the benefits and protections you expect.

Maximize your membership

It’s easy to make sure you’re benefitting from the Credit Union advantage, and maximizing your membership. Just start with us for any financial need! For example:

• Auto loans — Refinancing your bank or dealer loans may sound hard, but it’s not, because we do all the work for you. Just bring us your current car loan statement and we’ll compare what you’re paying another lender to what you could be saving by refinancing with us. Also, before you shop for any vehicle, get preapproved so you have the upper hand when negotiating with a dealer or private party seller.
• Check your checking account — The average bank checking fee is more than $13 each month— that’s $156 a year for using your own money! Our Simply Classic checking is full-service has no monthly fees and delivers all the convenience and access you want.
• Good money habits — Your financial wellbeing is our priority and we can help with our Get Fit Savings Plan. Deposit as little as $10 a month and when your balance reaches $500, you can roll the balance into a high-yield Get Fit Certificate to build up your savings. We also offer many free budget counseling and financial education opportunities to improve your situation and reach your goals in life.

VCCU is always here for YOU!

Everything we do revolves around serving you and our members. We know that will look different for everyone, but we can customize your services in a way that banks can’t.