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There are several advantages of banking with a credit union over a Wall Street-based bank. With federal insurance provided by NCUA (National Credit Union Administration), credit unions offer the same amount of financial security as FDIC-insured banks. Unlike banks, credit unions have never received a bailout and are always committed to providing the communities in which we live, work, learn, worship, and celebrate greater financial options.

Whether you’re new to credit unions or already a member somewhere else, here are the top reasons to join a credit union. 

More Favorable Rates 

One of the reasons we see our members switch from bigger banks to a more community-centric credit union is the access to more favorable loan and credit rates as well as lower banking fees. 

Greater Niagara Federal Credit Union members can take advantage of low rates on personal loans, home equity lines of credit, and auto loans. For example, recent promotions on auto loans offer APR as low as 1.99%. We also offer ongoing credit balance transfers with rates as low as 2.99% for the first six billing cycles. 

Like banks, credit unions also offer credit cards and various lines of credit. However, credit unions can offer credit cards with lower rates, more rewards and no annual fees. Learn more about Greater Niagara FCU credit cards and apply for one of your own here.

Fewer Fees

In addition to greater rates on personal loans, auto loans, RV loans, and other financial services, Greater Niagara FCU offers its members the opportunity to bank with fewer fees. Take the national average for example. Approximately 24% of banks nationwide offer fee-free checking accounts while nearly 60% of credit unions offer as much. With a Greater Niagara FCU checking account, you can enjoy free ATM fees at ATM machines all across the county. In addition to lower fees and convenience, we also offer members protection from overdrafts with Overdraft Lines of Credit and Courtesy Pay.

Members Make Decisions — Not Stakeholders

Unlike banks that operate for profits, credit unions are cooperative, member-owned not-for-profits. Free from outside stakeholder influence, each Greater Niagara FCU member has a voice and a say. For example, Greater Niagara FCU members get to vote on board officials. Each member of Greater Niagara FCU has a $5 share in the credit union with the board establishing by resolution the maximum number of shares any one member can hold. View the Greater Niagara FCU Bylaws for more information on stakeholder agreements

Fewer Eligibility Requirements

We provide quality, personalized financial services to meet the lifetime needs of our members and always keep membership accessible. Anyone who lives, works, worships, attends school, or conducts business in Erie or Niagara County is eligible for membership. And once you’re a member, you can remain a member for as long as you’d like, even if you move addresses or switch employment that takes you outside of our Erie and Niagara county communities. 

Committed to Community

Greater Niagara FCU has built its reputation on serving its members and our community across Erie and Niagara County. We focus on making our financial services and lower loan rates more accessible to our community members. 

You can learn more about what it means to become a Greater Niagara FCU member and start taking advantage of the financial services and rates that rival any large, national bank here. Or, if you’re ready to make the switch now, you can apply for Greater Niagara FCU membership.