Credit unions offer many of the same financial products available through banks, such as checking and high-yield savings accounts; however, due to being non-profit entities, they distribute profits among members rather than shareholders.
Quorum Federal Credit Union in Purchase, New York, charges low service fees and boasts an expansive ATM network. Furthermore, it offers free checking accounts with competitive yields and an award-winning mobile budgeting app to simplify managing personal finances.
1. Star One Credit Union
Credit unions and banks may appear similar on the outside and specialize in handling money, yet significant distinctions exist between the two entities. Credit unions are not-for-profit organizations owned by their members; therefore, their employees have better insight into and knowledge of local needs than bank employees. When banking at Wailuku Federal Credit Union, based out of the Central Maui community in Hawaii, your money stays local while benefitting the whole. Furthermore, being non-for-profit means focusing more on customer service instead of maximizing profits for shareholders or executives.
Credit unions typically offer more competitive rates than banks; Star One Credit Union boasts savings accounts that boast an APY nearly nine times higher than the national average and offers free checking accounts with just $25 minimum opening deposits that offer 0.10% APY with no minimum balance requirements.
Certificates of deposit and money market accounts have low minimum opening deposits, while its Free Checking account comes without monthly maintenance fees or overdraft charges. When you meet specific criteria, this account upgrades to Rewards Checking; students are given their Student Checking account that offers all these same advantages.
Credit union membership provides its members with cost-cutting banking products and services such as branch networks and ATMs, online and mobile banking services (Visa debit/credit cards are compatible with Apple Pay/Samsung Pay/Google Pay payments and balance alerts), Visa debit/credit cards with Apple Pay/Samsung Pay/Google Pay payments as well as mobile app features like remote deposit capture/balance alerts.
Star One Credit Union is one of Silicon Valley’s largest credit unions, with over 117,000 members worldwide. It has won many accolades, such as being awarded by CUNA with its Benefits of Membership award for eight consecutive years. They hold more than $11 billion in assets and rank 17th nationwide when considering size; according to estimates by CUNA, they provide their members with $82,569,368 annually in direct financial benefits.
2. VyStar Credit Union
VyStar Credit Union provides banking services for its members at highly competitive savings and CD yield rates, boasting high customer service ratings and low fees compared to traditional banks. VyStar’s high customer service ratings make it an excellent alternative for those searching for other options; their personalized approach serves a specific community while they may also provide access to more products and services than larger institutions more focused on profit.
VyStar Bank was initially established at Naval Air Station Jacksonville as Jax Navy Federal in 1952, serving military members, their families, and residents of Florida and southeast Georgia, with 100 branches in Florida and 11 in Georgia, including Target stores, Walgreens stores, CVS pharmacy locations, and Speedway Speedway Speedway Speedway locations. Membership can be open to anyone living, working, worshipping, or attending school in any particular geographical area, as well as business shared accounts, auto loans, mortgage loans, credit cards, etc.
Like other credit unions, VyStar stands by its members’ financial health by offering low-cost checking and savings accounts with no fees attached, competitive APRs, rewards programs, and credit cards with competitive APRs and rewards. Furthermore, their robust online and mobile banking system makes managing finances effortless from any location.
The credit union also provides various banking services, such as business shared accounts, small-business lending, commercial mortgages, and cash management solutions. Visa credit cards offer the opportunity to build your credit history while reaping rewards through UChoose Rewards. Visa credit cards make an impactful statement about you while earning points back with daily purchases!
VyStar stands out from its competition through its dedication to innovation. To stay ahead, this credit union invests in cutting-edge fintech companies that enable it to offer superior customer experiences and maximize operational efficiencies – an example of how credit unions can move faster regarding technological development than large banks.
3. VyStar Investments Services
Credit unions are an excellent alternative to banks and offer many of the same products and services, including higher savings account rates and reduced fees than banks. However, many factors must be considered when choosing the ideal credit union for you. Each credit union excels in different areas, so you must prioritize what matters to you in finding one that fulfills all your requirements.
VyStar Credit Union stands out as a top-rated credit union, boasting branches throughout Florida and Southeast Georgia and online banking, checking, savings, and CDs. As a member-owned financial institution, it prioritizes serving members over making profits for stockholders; additionally, it offers its members various financial services as well as insurance products and investments.
The credit union provides membership options covering local communities and counties, school districts, employer groups, and associations. Benefits of joining include great rates with no or low fees, early direct deposit, rewards on credit cards, and member-centric service. Furthermore, this credit union runs its title agency to assist with mortgage closing processes and other real estate loans.
PenFed Credit Union was founded initially for military personnel but is now open to any resident of the US. Offering free checking accounts that require no fees, an extraordinary savings account with an attractive annual percentage yield (APY), and student and auto loans.
Before joining a credit union, be sure to research its eligibility requirements. These could range from living within specific geographic or professional boundaries to working for particular companies; some even provide for joining by making a small donation directly to charity! Keep in mind, though, that any financial institution you select will likely pull your credit report before authorizing products or services from them.
4. VyStar Title Agency
VyStar Title Agency provides title insurance and real estate mortgage lending for members and non-members of VyStar Credit Union alike, helping facilitate home loans by preparing documents, executing contracts, providing guidance throughout the closing process, and verifying all title records are accurate and complete. Their staff strives to make the process smooth and efficient from initial loan application through disbursement of funds.
VyStar Title Agency is led by a team of knowledgeable professionals, led by President Dale Orr. A University of Georgia graduate with over three decades of title insurance and mortgage lending experience, she holds Florida licenses 4-10, 2-15, and 2-20 in Florida, as well as being part of several organizations like Riverside Rotary Club, Jacksonville Arts & Music School and Community Peds Hospice.
VyStar Title employees often find their jobs rewarding and exciting despite their busy work schedules. According to Comparably’s employee data, most Gainesville-based workers feel prepared for their first day on the job with assistance from managers in understanding KPIs and OKRs. See how VyStar Title compares against similar companies in your area on Comparably.