Don’t Just Take Our Word For It...
Are you tired of paying more for even the basic financial services? You’re not alone.
Members love GSCU for our personal, friendly service, low fees and great rates. Unlike other financial institutions, we are in the business of helping people, not making a profit. Rather than paying dividends to shareholders, earnings are returned to our members in the form of lower rates on loans, higher rates on deposits, and lower fees. In an economy where being cautious and frugal has become a way of life, it makes sense to manage your finances with an organization you can trust. But don’t just take our word for it.
Personal finance expert, Suze Orman, explains NCUA and FDIC are Virtually Identical. Ms. Orman is helping consumers understand NCUA insurance by appearing in public service spots explaining the similarities between NCUA and FDIC protection. As Ms. Orman says, "They're virtually identical. NCUA protects the money you have in a credit union account up to $250,000, same as FDIC protects money in a bank account." Both are backed by the full faith and credit of the U.S. government, so no matter what happens, your money is safe, provided you stay within the coverage limits. And a new law makes this $250,000 coverage limit permanent.
Forbes Personal Finance Report asks consumers Is It Time To Fire Your Bank? More and more banks are charging more and more in fees. In today's market personal finance experts encourage consumers to look to Credit Unions, "Here are some places you might still be able to increase the interest rate you’re getting and decrease the fees you’re paying while still keeping your money safe and accessible." Credit Unions tend to pay more in interest and charge less in fees since they're non-profit. And look for checking accounts that offer more in "rewards."
New York Times Your Money Report encourages consumers who are Healing A Wounded Credit Score to talk to a credit union. For millions of Americans struggling to regain their financial footing following the loss of a job, a home foreclosure, mounting debt, or bankruptcy, rebuilding credit is essential to accessing mainstream financial services and getting back on track. Talk to a credit union! If you're healing a wounded credit score, "a credit union may be more willing to work with members who have checkered histories. Their offerings vary, but they may be more likely to consider alternative credit scores, offer free credit counseling or have products tailored for people with poor credit histories."
MSN Money reports it might be time to ditch your bank as Converts Sing Praises of Credit Unions as rising interest rates and penalty fees have caused many consumers to leave their banks. "It's smaller, it's more personable, and it's definitely easier to get questions answered," says one consumer, who adds that switching to a credit union sooner could have saved her close to $500 in penalty fees. "Plus, for me, it's like the whole 'buy local' thing. Credit unions are doing well in terms of getting local customer loyalty. The financial crisis has just made people look at larger institutions with deserved skepticism."