Although almost every Oregon credit union was created to function similarly to a bank, offering various financial services to their clients, the best credit unions in Oregon cater to a select few categories of clients. Granted, anybody that lives in a certain community can become a credit union member and use their services, but there are certain people that seek help from credit unions in particular. This is because credit unions, unlike banks understand that helping a person in their time of need is more important than taking advantage of them and making money off of them.
Who Do the Best Credit Union in Oregon Cater to?
Credit unions were created around the 19th century in Europe and they were a massive change from the banking system, which was already very old and had very stuffy rules and regulations regarding the people that could use it. The first credit unions developed in small communities, such as parishes and on university campuses, but managed to grow and branch out to other places that people needed help. Although having such a rich history, credit unions today are still created following some of the ground rules used when they were first created. The main one is that a credit union is created in order to help the population of a certain community, by the people in that community. Although this might seem somewhat limiting, it helps the union have a better control on who it chooses to do business with, and it helps the people within the union manage its finances more transparently.
The https://www.onpointcu.com/ best credit unions in Oregon , although created and modeled more or less on how a bank operates, cater to certain client categories in particular. These are:
1. The first and most frequent clients of the best credit union in Oregon are the people with low and medium incomes, from blue collar communities. They usually need financial help during certain moments, such as family emergencies or various events, in order to get through them more easily. The loans they require aren’t usually big and can be paid off relatively quick. Also, these clients are usually the ones that create these types of unions or at least become members of them most frequently.
2. Small businesses are another category that the best credit unions in Oregon cater to very frequently. These businesses tend to avoid going to big banks in order to get loans or any kind of financial help because they usually don’t want to deal with big corporations and risk losing control of their operation due to hard to understand procedures or to high rates and hidden taxes or fees.
3. Students are one of the most financially vulnerable categories in society. This is because they need considerable amounts of money in order to attend classes and finish their studies but also don’t usually make enough to pay for this. This is why many of the look for help in the form of student loans. There are many financial institutions that offer this type of loans, including some of the best credit unions in Oregon. Students choose to apply for loans with credit unions because, unlike other financial institutions, credit unions have lower rates and a much easier process of approval. This way students can pay back their loans in reasonable instalments while also getting and education and not having to rely on financial support from parents or friends.
Hot to Find an Oregon Credit Union?
For people that never had to apply for a loan before, finding and https://www.onpointcu.com/ Oregon credit union might seem difficult. Actually, the process of getting in touch with one is one of the easiest things in the world. Granted, credit unions don’t have offices on every other street in every town of every county, like large commercial banks have, but finding a credit union can be quite easy, if you know where to look. Firstly, you can find an Oregon credit union by going online and browsing web directories. Simply open up Google and type in “credit union” and the city you are in. If you don’t find one exactly in your town, changes are that you can find suggestions about the nearest one to your location and how to get to it.
But what if you are looking for a specific Oregon credit union. The internet comes to the rescue once again. There are thousands of sites and platforms that list every credit union in a state and lets you get in touch with any of them by providing valuable information such as addresses, emails and phone numbers. You can even find sites that let you compare credit unions between them, so you can make an informed decision, if you don’t already have your heart set on a specific one. Although credit unions don’t spend money on flashy advertising or grand offices, they do operate websites and offer may of the services that banks offer. Some of them even have similar online banking services and are part of ATM networks. All of this and many more useful information can be found on these websites that let you do your research on what each credit union can offer you in order for you to make an informed decision.
Another great thing about almost any Oregon credit union is that they like to keep it casual and old-school. That means that, besides the internet ads and other modern ways of advertising, credit unions still used old fashioned ads like the ones you would find in a newspaper or on a billboard. This is mainly because they are not as flashy as big corporate banks and don’t spend hundreds of thousands of dollars on promoting their services and also because they know that the majority of their clients still use classic media and want them to feel that they understand them. After all, credit unions are made up of people from a certain community helping other people from that community.