If there's ever a time that "millennials" need cooperatives, it's now.
The last ten years have been quite transformational for this generation of young adults. Younger millennials just graduating college likely saw their parents lose jobs, benefits and pensions while bank executives lost nothing. According to a study by Filene Research Institute, millennials make about as much (rather, as little) as previous generations, but factor in the average student loan debt of $27,000 and that take home pay is quickly eaten up.
Despite that, millennials are principled and they maintain an optimistic outlook about their financial future. And life goals and financial goals are entwined. If you're looking to firm up yours, a credit union--which is a not-for-profit financial cooperative that offer the same services as a bank--is a smarter choice.
Here are some ways CES Credit Union can help you achieve your life goals.
If you value open membership without boundaries, a credit union is for you.
When you opened your first bank account, did you have to deposit some ridiculous amount of money or risk getting hit with a $5 monthly fee? At a credit union, you usually only have to deposit a minimum of $1 to $10. That money is a "share" in the company instead of money that's invested in high risk securities. Anyone can open an account without worrying about meeting certain terms.
If you value cooperation instead of competition, a credit union is for you.
Why should you have to suffer because your bank doesn't have ATMs everywhere? A $4 fee here and there really adds up. You shouldn't have to spend $24 to withdraw $20. That's a ripoff! Instead, grab your smart phone, download the Co-Op ATM app and find a free ATM or shared branch to conduct your business. Voila! As everyone knows, life is a little better when you work together instead of making everything a competition.
If you value education, training and information, a credit union is DEFINITELY for you.
Credit unions are the only financial institution with education as one of their foundational principles. Many credit unions offer training seminars for buying a house, buying a car, rebuilding after bankruptcy, saving for college and retirement planning.
A credit union, with it's not-for-profit values, can help you affect change in your community and life. Whether it's an auto loan, mortgage, small business loan or balance transfer credit card, they are simply a smarter choice. Set big goals, and CES Credit Union can help you achieve them.