Credit unions are similar to banks but are owned and operated by its members. Some businesses and private individuals prefer borrowing money from such unions instead of borrowing from banks. But just like many services and things in life, it has its own advantages and disadvantages. Some may prefer to open an account with a large branch while others prefer to go with a small, friendlier.
How can you join a credit union? Once you open an account with a credit union you automatically become a member. The objective of every union is to deliver excellent customer service and to give their members satisfaction. At some unions they even allow members to vote on policies concerning their account.
One great advantage of joining a credit union is the low fees. .At larger banks they tend to charge a fee for everything. There are overdraft fees, ATM fees, service fees, and much more. On the other hand a credit union offers lower overdraft fees and there are no ATM fees. These lower fees mean you are saving money. In addition to that, credit unions normally offer lower credit rates and higher saving rates.
Learn more about credit unions from Investopedia. Read more at: http://www.investopedia.com/financial-edge/1211/6-benefits-of-using-a-credit-union.aspx