Credit Union banking, open to all

Credit Union banking, open to all

NEGAUNEE — Senate Resolution 108, adopted just last week, officially marks this week as ‘Credit Union Week’.

Traditionally, credit unions were established to support private groups but nowadays credit unions have bucked with this tradition.

“We are for everyone, credit unions just aren’t for small private groups anymore, some are, but overall most credit unions want everyone to be a member. They want the woman down the street, they want the police officer on the corner, they want the minor down the road, they want everyone to be involved and share in the benefits of a credit union,” says Kelsey Niemisto, Public Relations Specialist, HONOR Credit Union.

Credit unions give home loans, car loans and personal loans. Just like traditional banks, they also have ATM’s, online banking and weekend hours.

When it comes to borrowing money, most people automatically think about going to a bank. Well, you might want to reconsider and try a credit union. Credit unions are non–profit institutions so sometimes you may be able to get a better interest rate.

“We don’t make a profit off of our members. We get involved in the community as much as possible. Do what we can for the community, this isn’t for us, we don’t charge a lot of fees and take your money, it is for us to help you with your money,” continued Niemesto.

Credit Unions have been organized in Michigan since 1934.