Advantages of a Credit Union Over a Bank

As you consider entities to entrust with your finances, forget what you think you know about credit unions. Bellco Federal Credit Union would like to present the many advantages of a credit union over a bank.

Financial institutions share a number of characteristics. In many cases, you wouldn’t even know the difference between a bank and a credit union. They handle money, offer financial products like checking and savings accounts, and provide financial services for financing your life goals like pursuing home or auto ownership.

The differences between the two, however, are important. Let’s consider how these differences work to the advantage of the Bellco FCU member/owner.

Serving Communities

Credit unions like Bellco Federal Credit Union provide financial products and services to specific communities. We provide the citizens and small businesses of Berks County, Pennsylvania with the financial scaffolding required to progress. Unlike banks, we do not say come one, come all. Instead, we focus services on the employees, residents, worshipers, and students of the county, as well as the immediate family members of our existing members.

Individualized Services

Bellco FCU serves a specific community. We know our members and treat them accordingly. All decisions and processing occur locally, so members/owners expect a faster response. The financial professionals here can also consider applicants as more than numbers, greeting members with a smile and helping them reach financial goals with education, services, and products.

Owned and Operated by Members

Credit unions are not in operation to turn profits for shareholders like banks are. We exist to improve the lives of our members and the community at large. The lack of focus on profits allows us to extend better terms and rates than banks can provide.

Being joint owners, members of Bellco Federal Credit Union also have a say in the operations of the organization. Regardless of the dollar amount in an account, each member has an equal voice.

Appealing Rates

Federal credit unions like Bellco FCU can offer appealing rates that banks simply aren’t able to in their search for profits. When members deposit their funds for saving, they earn a higher return, and when they borrow via credit card, mortgage, auto loan, or other product, the rates are lower than they would be with banks.

Greater Flexibility

If you have experience banking with traditional banking institutions, you’ve probably been stung by a fee or two that you find unreasonable. Bellco Federal Credit Union offers FREE checking account options with the following features:

  • Free online banking

  • Easy and accessible mobile banking app

  • Visa debit card

  • No service fee or minimum deposit

  • Easy check reordering

Why Choose Bellco Federal Credit Union

Bellco Federal Credit Union provides all of these advantages. Originally formed as Bell Telephone Company in 1938, we’ve evolved over the years to serve the entire county’s individuals and small businesses.

In addition to all of the expected products and services for financial facilitation, we also offer all of the following modern services:

  • Digital wallet

  • Bellco Easy Pay

  • Mobile banking

  • Online banking

  • E-Statements

  • TruStage insurance

  • Auto dealer financing

  • Community scholarship

  • Zogo financial literacy

After considering all of the advantages of a credit union over a bank, we’re confident that you’ll be contacting the team at Bellco Federal Credit Union via phone at (610) 373–5192 or completing this online contact form.