Community First Credit Union: Fill & Download for Free

“We Don’t Accept Coins” - Are you freaking kdding me? It’s money!First off - I know I am not alone; especially during these times of the Covid virus. However, I have always saved my change, then rolled it and deposited it in my savings account. Again, I know I am not the only person to do this. And, my father before me used to do the same thing. Once, when he lost his job, we lived on the rolls of change he had saved.Sure, like many, I often use that plastic debit card. However, having had a small business of my own, I am aware that every time someone uses plastic, the merchant has to pay a fee - sometimes rather large - and make little or no money on small transactions. So, I carry cash and prefer to pay in cash when shopping at small, local businesses. (I would rather invest my money in my community than give it to this large banks who don’t know or care about me). Subsequently, I accumulate change.The first time I went into my credit union, I was told “we don’t accept change”. (and, yes, it was rolled) After a brief back-n-forth, I decided - “Fine, I’ll take my business elsewhere” and went across the street to my other bank (I don’t keep all my money in one place). They gave me the same crap!I ended up going back to my credit union and this time ‘dug-in-my-heels’. Finally, when I threatened to contact the Board of Directors, the teller agreed. She outlined all the hoops-n-hurdles she required that I must jump through before she would accept my change. “Ok, fine”, I thought and each time I follow her ‘rules’.Now, credit unions generally are not that large. So, often when I go in, I get the same teller - and EVERY TIME, she begins the conversation the SAME way: “We don’t take change” (God, I hate a bully with a little bit of power! And, each time, I ignore her and we move forward with the transaction and (Damn!) they take the change every time - go figure!And, here’s what makes the whole thing even more ridiculous (from my perspective). Every bank which has told me this (and every bank I have been to says the same thing - we don’t take change) claims that they “Can’t use it, it accumulates and they can’t do anything with it. Except, I worked part-time for major retailer and KNOW that they order change for their registers EVERY DAY because that was my darn job and I did it! I was also the one that made the trip to the bank to pick-up the change requests.And, to make the whole exercise even more goofy, almost every darn store I went into (for awhile) had signs out: “We need change!”. Some small stores were even offering to ‘buy change’ from their customers, they were so desperate.And, this Bank practice has been going on long before the Covid virus impact - so its not a result of that and the precautions some people are taking. THAT - I get and am OK with.Again, from my perspective, when you give some people a little power, they go nuts with it. But, seriously, the day banks stop taking ‘money’, is the day we’re all in a sh*tload of trouble.Anyway, that’s my two cents ~

You should get a loan from the place where you’ll get approved for a loan, assuming the loan is on reasonable terms.It’s hard to make generalities about comparisons between banks and credit unions … whether it’s lower rates, customer service, or convenience. You might expect that credit unions would have more customer-friendly policies .. like having more interest in helping you avoid bounced checks and associated charges, helping you to avoid late charges on your credit cards, and more generally, helping you to identify products and services that meet your needs rather than those that maximize the profit.BUT both banks and credit unions have to operate in a financially prudent manner.You haven’t told us anything about the loan you’re looking for, such as whether it’s secured or unsecured, how much will you be borrowing, etc. And also, you haven’t told us anything about yourself.If you’re talking about an unsecured loan, you really should be looking someplace where you already have an account. If it’s a car loan, then you have more choices. OTOH, if it’s a mortgage, you should seriously do some shopping around.Bear in mind that for a credit union, you must first become a member. These days, most credit unions are “community” credit unions, meaning you are eligible to become a member if you live or work in the community they serve (though some credit unions have a provision allowing you to join even without being in their community). There is usually a one-time joining fee, which is often $5. I would suggest that, even if you don’t want to borrow from a credit union now, you should look over the credit unions serving your area and join one, just so that you have some history with them. They’ll often have free checking accounts without a minimum balance (or at least one that’s much less than what many commercial banks require), so this might be something to consider over your current checking account.Most credit unions these days offer the same services you can get from banks, e.g. online banking, overdraft protection, various forms of electronic transfers, debit cards and credit cards. Your average credit union is more likely to participate in a surcharge-free ATM network than a bank is, and while this feature may be less important than it used to be, it’s nice to know that if you have to, you can get cash at a convenient ATM without having to pay several dollars in surcharges.

You need to understand what the banks are and what is needed to be called “a bank” and what credit unions are - otherwise it’s a very one-sided question.Most of it is covered here: What Is a Credit Union—and How Is it Different From a Bank?Just like banks, credit unions accept deposits and make loans—so how, exactly, are they different?For one, they have a democratic history. The first credit unions were established as cooperatives, meaning the people who kept their cash in the credit union also helped manage it—and they still operate this way today. As such, you are treated as a member, not a customer, and have the right to vote on a board of directors. Typically, personal finance expert Tal Frank tells mental_floss, membership often means you can expect better service at a credit union than at a big bank.“However, if comparing a credit union to a community bank or a small local bank, you will probably find that you get a high level of service at both," Frank says. "The smaller guys try harder. They also have more of a personal connection with clients or members.”Credit unions are also non-profit organizations. "So, unlike banks, they don't have stockholders who expect to receive a quarterly dividend payment," Timothy Wiedman, a retired associate professor of management and human resources at Doane University, tells mental_floss. "And without the need to pay stockholders, federally insured credit unions can benefit their members by keeping fees low.”As Weidman says, because they’re non-profit, credit unions can use any excess earnings to offer customers lower rates and better financial products. “Most banks pay lousy rates of interest, have too many fees, charge too much for those fees, and charge too much interest when loaning money,” says Wiedman. “Virtually all federally insured credit unions beat most banks in nearly every one of those categories.”But the fact that they're community-focused cooperatives doesn't mean credit unions are a free-for-all: They operate under certain rules set by an organization called the National Credit Union Administration (NCUA). In addition to setting guidelines, the NCUA also insures your funds (just as the FDIC—Federal Deposit Insurance Corporation—does your deposits at a bank).Interested an opening an account? Credit unions are a bit more exclusive than banks. “In the olden days, one had to be an employee of a particular company or member of a certain group to join a credit union,” Frank says. “Over the years that distinction has eroded for many credit unions. Guidelines changed to include allowing membership for family, a specific occupation, or all those who live in a geographic area (even as large as an entire state). As an example, Delta Community Credit Union is the largest in Georgia. Although there are ‘membership eligibility’ guidelines, the guidelines are so broad that it is pretty much open to anyone.”Many credit unions will expand their membership to people outside of an industry or area if you make a small charitable donation, too. The Pentagon Financial Credit Union, for example, is typically only open to military employees, but just about anyone can get a membership with a one-time $15 donation to Voices for America's Troops or the National Military Family Association.If you’re looking for a credit union, ASmarterChoice.org is a good place to start your search. You'll need to vet the credit union carefully, as you would any other financial institution: Make sure they are indeed insured by the NCUA, and read member reviews on comparison sites like NerdWallet and Bankrate. If convenience is important to you, you’ll also want to check out their mobile and online banking options to make sure they fit your needs.