When it comes to managing your money, where you bank matters. Credit unions like Community Resource Credit Union (CRCU) offer a member-focused approach that prioritizes people over profits. But what exactly does that mean for your financial well-being?
In this Q&A, CRCU breaks down the key benefits of banking with a credit union, how membership impacts service, and the financial products and technology that make managing your money easier than ever. Whether you're looking for lower loan rates, better savings options, or a more personalized banking experience, CRCU is here to help.
1. What are the biggest benefits of banking with a credit union compared to a traditional bank?
At Community Resource Credit Union (CRCU), we put people before profits. Unlike traditional banks, which are owned by shareholders, CRCU is a member-owned, not-for-profit financial institution. This means that instead of maximizing shareholder returns, we focus on delivering value to our members through lower fees, competitive loan rates, and higher savings rates. We reinvest earnings into better services, technology, and community initiatives, ensuring that our members always come first. We actively support local schools, small businesses, and charitable initiatives to help strengthen the communities we serve.
2. Credit unions are member-owned—how does that impact the way you serve your customers?
Being a member-owned institution directly impacts how we serve our members. Every member is an owner, meaning decisions are made with their best interests in mind. Members have a voice in the credit union’s direction and can vote for the Board of Directors, ensuring transparency and a commitment to their financial well-being. This ownership model allows CRCU to offer personalized service and tailor financial solutions that fit each member’s needs. Since we don’t have to satisfy shareholders, our earnings go directly back into offering lower loan rates, higher savings rates, and fewer fees.
3. What types of loans and financial products do you offer, and how do they compare to those at big banks?
CRCU provides a full suite of financial products designed to meet the needs of our members. From auto loans with flexible terms and low rates to mortgage and home equity loans with no hidden fees, we ensure competitive and accessible lending options. Our credit cards offer low interest rates and rewards with no annual fees, and our personal loans provide financial flexibility for a variety of needs. Business owners can also take advantage of our commercial lending options, making CRCU a one-stop financial partner for both personal and business banking.
4. How does a credit union help its members with financial education and long-term financial health?
We are committed to supporting our members' long-term financial success through education and personalized guidance. CRCU offers free financial workshops, online learning resources, and one-on-one counseling to help members navigate everything from budgeting and credit scores to home buying and retirement planning. By providing the right tools and knowledge, we empower our members to take control of their financial futures.
5. If someone is considering switching from a bank to a credit union, what should they know about the process?
Switching from a bank to CRCU is simple and rewarding. If you live, work, or go to school in our service areas, you’re eligible to join. Opening an account takes just minutes, and we make transferring funds and setting up direct deposits easy. Once you become a member, you gain access to better rates, lower fees, and a financial institution that genuinely cares about your success. With CRCU, you’re not just a customer—you’re part of a community-driven credit union that has been serving members for over 90 years. Visit https://www.crcu.org/welcome to learn more about becoming a member today!
"At Community Resource Credit Union, you're not just a customer—you’re an owner, and your financial success is our priority."