Credit Unions, Banks, or Online Lenders – What’s the Difference?
Choosing a financial services provider can be challenging, so it’s important to understand the benefits offered by credit unions like Community First:
You’re an owner, not just a customer.
Unlike banks and online lenders, credit unions are not-for-profit financial cooperatives that serve their members – members who are actually owners.
You enjoy personal attention, fewer fees, and great rates.
Credit unions offer all the products and services you’re looking for:
- Home Equity loans
- Business loans
- Direct deposit
- Online Banking
- Android and iPhone mobile apps
- Rewards cards
- Member discounts
- Debit cards
- Surcharge-free ATMs network
- Overdraft Protection
…along with financial wellness programs and tailored solutions when it comes to mortgages, insurance policies, or retirement plans. In addition, according to many online surveys, credit union members enjoy the highest customer satisfaction and some of the best rates on savings products in the U.S.
You receive additional rewards.
Earnings are given back to credit union members in the form of dividends, higher savings rates and lower loan rates. And as a member, you’ll also have a vote in electing the credit union’s volunteer board of directors during the annual membership meeting.
Your deposits are protected.
Credit union deposits are federally insured up to $250,000 by the federal government’s National Credit Union Administration (NCUA).
You invest in your community.
Community First Credit Union members are invested in Northeast Florida, not overseas. For over 80 years we have made a positive impact on our community and its expanding economy with charitable giving, volunteerism and financial education. The Community First CARES Foundation raises funds supporting projects that meet our mission of improving health and wellness in our communities.
You can bank right where you are.
Community First Credit Union of Florida is a state-chartered credit union based in Jacksonville serving anyone who lives or works on the First Coast. Community First is one of the 10 largest credit unions in the state, serving more than 153,000 members and with assets of $2.2 billion. Community First has 19 branch locations and 340 employees. A not-for-profit, Community First is a full-service financial institution offering banking, loans, mortgages and investments for consumers and businesses across the First Coast.
