There are main differences between banks in Portland Oregon and credit unions and as soon as you learn about them, you will be able to take an inspired decision. In general, people prefer banks because they have many branches across the country and they develop technologies to allow easy access, such as apps, mobile and internet banking. On the other hand, there are many reasons to convince anyone to join the union, especially since you can benefit from higher rates on deposits, lower fees and improved customer service. In addition, you can ask a set of questions before deciding upon the institution, such as data about overdraft fees, monthly maintenance, charges for checking accounts and more.

Banks in Portland Oregon are aimed at making a profit and this is their main goal. On the other hand, unions are non-profit and they serve their members and the community. There are some requirements to become a member, such as living in a specified location, working at a company in their list, studying or worshiping a certain establishment and such. In order to focus on their members, unions develop financial products and services with some of the best features. Each takes advantage of low loan rates and fees and even people with a poor credit score can find the desired products within the union, as everyone works together to find the best solution. This is something that banks lack, the level of personal service.

Choosing the Oregon credit union implies some aspects to take into account and each person needs to evaluate them accordingly. You will benefit from better customer service, high interest rates on deposits and lower ones on loans. They keep up with technology and are able to provide access to internet banking, so you can make transactions and verify your account whenever desired. Although some believe there is not a broad ATM network, many share branches, so this compensates. Even unions have evolved throughout the years and developed considerably, in order to keep up with requirements and satisfy people’s needs. They want to attract members in order to develop the community. Back in the days, they were more restrictive and limited to a number of members, but things have changed over the years and now even requirements are more flexible.

What matters the most is to prioritize your necessities and evaluate your needs, to know exactly what to stick to in the end. For example, if you need a loan, the Oregon credit union should be able to provide the one adapted for your requests, if a mortgage, personal loan, to buy a new car, to open a business, pay for university and such. Some unions dedicate their products to residential clients, not commercial, but this depends on the cooperative and you can still find some that support small businesses and help them expand. Maybe you want to open a savings account and what matters the most is the interest rate and how much you can obtain in time, for the amount deposited. 

Customer service becomes more and more important to people and they want to be listened. Not everyone is fully aware of financial terms; understand what they mean and what they should choose. Banks do not always listen to them or care about their necessities, they simply scroll through applications and see which ones meet the profile. Instead of rejecting members, unions try to find solutions and ways of assisting them. This is something invaluable for most people and the level of personal service matters so much these days. Not many people have the time to do research on financial products or services and fully understand the implications, so when someone is able to sit down with them and evaluate their situation, it is certainly appreciated.

Resource Box: Are you evaluating your options and think the  Oregon credit union  is the best one for you? This is certainly true and if you want to become a member check out the requirements. You do not have to be a client of  banks in Portland Oregon  if they do not suit your needs anymore.