Get to Know the Benefits of a Credit Union Checking Account

Most consumers understand the importance of having a checking account but rarely discuss where to open one and what makes one stand out from another. If your first thought is to turn to a local bank, have you ever explored the benefits of a checking account at a credit union?

Couple smiling in front of computer after learning the benefits of a checking account

There are benefits of having a checking account at a credit union with some unique features you don’t want to miss out on!

Member focus

One of the defining traits of a credit union is that they’re owned and controlled by its members or the people who use their services. The members elect a board of directors to oversee the operations and make decisions that are in the best interest of the institution. This structure enables credit unions to focus on providing high-quality services and products to their members.

Lower fees

If you didn’t know, banks are owned by shareholders which means they demand high annual returns, often earned by charging account and service fees. As mentioned earlier, credit unions are owned by their members which means the profit credit unions earn will be returned to their members in the form of lower fees, better interest rates, and even bonus dividends.

Credit union guarantee

Credit unions are insured similarly to banks. Some are insured by the National Credit Union Administration(NCUA), an independent agency of the federal government. The agency insures up to $250,000. An alternative to this is private credit union insurance such as American Share Insurance (ASI). Only the most financially responsible institutions qualify to offer ASI. And, just like NCUA, the insurance is up to $250,000, with an option for Extra Share Insurance (ESI) to cover amounts up to $500,000.

Exclusive member perks and discounts

At CCCU, when you open a Bonus Checking account, members receive exclusive perks to help the entire family. CCCU’s Bonus Checking account includes:

  • Identify theft monitoring and credit protection for the whole family.
  • Cellphone protection for lost or damaged phones up to four lines.
  • Buyer’s protection on retail purchases plus shopping and travel discounts for both local and national retailers.

An added perk of Bonus Checking is that it now earns 5.12% APY on up to $25,000 which is one of the highest interest-earning checking accounts in both the local and national market! Your money can potentially grow while you use the account to manage your day-to-day expenses. To learn more about the benefits, visit CCCU’s Checking Accounts page or speak with a new accounts specialist at 702-228-2228 for more questions.

Ready to open a Bonus Checking? Click here to start your application!