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Joining a Federal Credit Union

 

While banks are what most people think of when they are storing their money getting their debit card or even writing checks that are not always the option and for many people that are trying to avoid the bank’s fees a traditional bank just may not be a good option anymore. Credit unions work much like a bank but you have to have a minimum credit score to be able to bank with them without a fee and they also have many other benefits. Some of the other benefits of a credit union is that they are able to give loans with a much lower interest rate to most customers, the fees are minimal and for the basic accounts there usually is no fee at all, the credit union also has everything that a bank would have so that it would work the same way for you but just much cheaper. For those that don’t have the credit score to get the bank account at the credit union, there are usually simple requirements that have to be met then and one of those is a small minimum balance in the account this could be as small as fifty dollars which still works out better than banks for most customers.

In order to join a federal credit union near me, one would have to first find out what credit unions are around the area. This can be done with a simple online search and from there the customer can go online to compare the fees. After looking at the fees for each credit union and then looking at the reviews the person should have a few that they are interested in. At the point that the list is quite small the next step is to check out what atm’s are free for the credit union and if they would have access to their money easily even when out of the area that they live. This should narrow the list down greatly to two or three as some federal credit union near me are very small and don’t expand very much in the United States.

At that point, the customer just needs to go in and sign in so that they can have someone that they can talk to. When the person does get seen they can ask all of the questions they have and be told if they would qualify for a free account without the fee or need to sign up right then. Feel free to talk to many different credit unions that way you have a good idea of what credit union is going to work for you and the budget that you have. After talking with them then you can go back to the credit union that you have picked. At that point, you will be seen again and go through the process to sign up for the account which is very simple. The process is that the union is going to see what your credit score is and if high enough for the free account then you will get signed up for that. They will need your personal information such as social security number, driver’s license, and address so that they can set up the account with your consent. The information is so they can verify the information that you are giving them and they know that the account is being set up by the correct person as well as to protect you from others trying to get into your account.

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