Credit unions are financial institutions that provide services to members of a particular community or group. These institutions are known for offering better rates and lower fees than traditional banks. Advantage Credit Union is one such credit union that has been serving the Mansfield, Ohio area since 1957. In this article, we will explore the advantages of Advantage Credit Union Mansfield Ohio.
Contents
Membership
The first advantage of Advantage Credit Union is membership. Unlike traditional banks, which are open to the public, credit unions require membership. Advantage Credit Union is a member-owned financial cooperative, meaning that its members are its owners. This structure allows the credit union to prioritize the needs of its members rather than the needs of shareholders. Membership is open to anyone who lives, works, worships, or attends school in Richland, Ashland, Crawford, or Morrow counties.
Lower Fees
Another advantage of Advantage Credit Union is lower fees. Credit unions are not-for-profit institutions, meaning that they do not have to pay dividends to shareholders. Instead, they use their profits to provide better rates and lower fees to their members. Advantage Credit Union offers free checking accounts with no monthly fees, free online banking, and free mobile banking. Additionally, the credit union offers low-interest loans, low or no ATM fees, and no annual fees on credit cards.
Better Rates
Credit unions are known for offering better rates than traditional banks. Advantage Credit Union offers competitive rates on savings accounts, certificates of deposit (CDs), and loans. For example, the credit union currently offers a savings account with an annual percentage yield (APY) of 0.25%, which is higher than the national average of 0.05%. Additionally, the credit union offers auto loans with rates as low as 1.99% APR and personal loans with rates as low as 7.99% APR.
Personalized Service
Advantage Credit Union offers personalized service to its members. Because the credit union is member-owned, its employees are focused on meeting the needs of its members rather than making a profit. Members of Advantage Credit Union have access to a personal financial advisor who can help them with financial planning, retirement planning, and more. Additionally, the credit union offers financial education resources to help members make informed decisions about their finances.
Community Involvement
Advantage Credit Union is committed to serving the community. The credit union sponsors local events and organizations, such as the Richland County Fair, the United Way of Richland County, and the Mansfield Symphony Orchestra. Additionally, the credit union offers a scholarship program to help local students further their education.
Convenience
Advantage Credit Union offers convenient banking options to its members. The credit union has two branches in Mansfield, Ohio, as well as a network of ATMs throughout the area. Members can also access their accounts online or through the credit union’s mobile app. The mobile app allows members to check their account balances, transfer funds, and pay bills on the go.
Final Thoughts
Advantage Credit Union Mansfield Ohio offers many advantages to its members. The credit union’s membership structure allows it to prioritize the needs of its members, and its not-for-profit status allows it to offer better rates and lower fees. Additionally, the credit union offers personalized service, community involvement, and convenient banking options. If you live, work, worship, or attend school in Richland, Ashland, Crawford, or Morrow counties, consider becoming a member of Advantage Credit Union Mansfield Ohio.
conclusion
Advantage Credit Union Mansfield Ohio offers a range of advantages to its members. The credit union’s membership structure, not-for-profit status, and focus on personalized service allow it to offer better rates and lower fees than traditional banks. Additionally, the credit union is committed to serving the community and offers convenient banking options to its members. If you are looking for a financial institution that prioritizes your needs, consider becoming a member of Advantage Credit Union Mansfield Ohio.