MembersFirst CT Federal Credit Union News
285 Broad St., Meriden, CT 06450
Tel: (203) 237-6424 Fax: (203) 237-2166
Full Service Credit Union providing low-cost banking services. Anyone that lives or works in Meriden, Wallingford, N. Haven, Cheshire, Hamden & N. Branford are eligible to join. Special Small Business Partnerships availabe.
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New Study Shows Millenials are Turning to Credit Unions for Financial Support & Stability
March 13, 2023As a credit union member, you may already know that credit unions can offer lower rates and big savings compared to big banks, especially during these economic times. In an article from NerdWallet, you can learn more about how credit unions work and the potential savings they can offer.
The article explains that credit unions are not-for-profit cooperative financial institutions that return their profits to members. They offer many of the same products and services that banks do, but those might go by different names. For instance, a checking account may be referred to as a "share draft account." Credit unions may also belong to an ATM network that allows you to perform transactions beyond a specific branch.
Additionally, the article highlights that profits at credit unions are returned to members in the form of low fees, better rates on loans, and higher rates on savings. Credit unions may also offer more options to save, and profits are also returned to members through educational programs.
If you're interested in learning more about credit unions and how they can help you save money, I encourage you to click here to view the full article.
Thank you for being a valued member of our credit union.
Member News is provided as a service of the Midstate Chamber of Commerce and is also featured in the monthly "Chamber News" newsletter mailed to members.The “original publication date” of Member News articles posted on this web site reflects the date this article was added to the Chamber database and may not necessarily reflect the date such news events occurred.