If, like many consumers, you are struggling with keeping your money in a big bank because you feel like you are paying too much, lack customer service, and want more flexible options, you may be considering switching your accounts to a credit union. Liberty First Credit Union in Omaha, and Seward, Nebraska, offers all the options of a big bank and more. Our customer service specialists can answer your questions and help you find the options that you have been looking for, easily and locally.
Why People Are Leaving Big Banks
There are a number of reasons that many people just like you are considering switching from their current bank to a credit union. Some of the top reasons are:
- Credit unions typically charge lower overdraft fees, have few to no monthly fees, and have low to no minimum balance requirements. Savings and checking typically earn at a higher rate, and loans usually have lower rates than those of most banks.
- Credit unions offer local, personalized service. Many consumers dislike the fact that they cannot easily reach their bank locally, and credit unions are easy to reach, offer community-focused, and personal service.
- Credit unions are member-owned and not-for-profit. This means that profits are reinvested so they can offer better rates and services to their members.
- Credit unions provide members with convenient money management and tools that they can use to manage their accounts successfully.
Switching to a Credit Union is Easy!
Simply follow these steps to conveniently switch your accounts:
Step 1: Open Your Share Savings Account
Begin your transition to a credit union by opening your share savings account. A share savings account establishes your membership in the credit union. Acting much like a savings account in a bank, you are able to deposit and withdraw available funds. By opening the share account, you are essentially purchasing a share of ownership in the credit union, making you a member and earning you dividends from the profits of the credit union.
Step 2: Move Your Direct Deposit
If you have direct deposits, notify your employer or other depositor of the changes in the account. This can sometimes take a while, depending on the source, so you may want to inquire about how soon that can commence.
Step 3: Transfer Automatic Payments
Automatic payments can be switched as soon as your accounts are funded by updating account details. Make sure that all of your payment accounts have moved before closing your old account.
Step 4: Close Your Old Account
As soon as your direct deposits have moved and your automatic payment information has been updated, you can transfer your remaining funds and close your bank account. Leaving your account open could still incur fees, so it is necessary to close it to avoid accumulating fees and penalties.
Why Liberty First Credit Union Makes Switching Easy
Liberty First Credit Union is dedicated to providing the best financial services to our neighbors in the Lincoln, Omaha, and Seward Nebraska, areas by offering unrivaled customer service, local support, and unbeatable financial options. Our member benefits include lower interest rates on loans, higher rates on savings, and fewer fees than banks. Our team can help you make the transition from traditional banking to working with a credit union that you will trust. Contact us or come by one of our convenient locations to get started.
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