What Exactly is a Credit Union, and What are the Benefits?

BFG Federal Credit Union offers the services of a community bank with lower fees and better service.

For many individuals and families, making the right financial decisions can be overly complex. There are so many options, and the information about them often seems so unclear. That's why it's important to learn more about what's available, and what makes the most sense.

For instance, what exactly is a credit union, and what are the benefits of utilizing a local credit union in Akron and Hudson or other surrounding communities? Credit union benefits are actually quite impressive, making them a smart decision for people from all walks of all life.

A credit union is a financial cooperative, wherein members essentially all work together to reach their financial goals. A credit union isn't a for-profit corporation; it's a nonprofit institution that places people before profits, and even a local community bank can't say that.

Credit unions are owned by their members, and are managed locally by volunteer boards consisting of members. This ensures that everyone gets a fair shake and is treated well, with full attention to detail and personal service. No one is ever simply a number or a statistic to be passed over.

All of this means that with an Akron credit union, consumers can enjoy lower fees, a wealth of free services, consistently lower loan rates and competitively priced deposit rates. For credit unions, the goal isn't to make the highest profit off of their members, but rather to give them better options on everything from car loan rates to basic checking accounts. Summit County residents can put their full faith into a credit union such as BFG Federal Credit Union, which has more than 75 years of experience, and today has more than 29,000 members and $164 million in assets.

BFG Federal Credit Union strives to offer all of the positive traits, accessibility and personalized care of a community bank, while working hard to provide its members with key financial benefits and accessible and common sense solutions. This includes a full range of checking and saving account options, debit and credit cards, insurance coverage, mortgages and home equity loans, and often the best car loan rates Akron has to offer. Members know that when they utilize BFG, they'll be making their money go farther and doing more with less.

BFG Federal Credit Union members typically pay fewer fees and receive higher dividend rates. They'll have more financial options accessible for themselves and their families, enabling them to meet both their immediate needs and their long-term financial goals and objectives. Additionally, members can rest in the security of a full federal insurance backing from the National Credit Union Administration.

BFG Federal Credit Union works with individuals and businesses across Summit County, Ohio, including Akron, Cuyahoga Falls, Hudson, Twinsburg and Stow. Learn more about available services at http://www.BFGFCU.org.