Credit unions and banks are both types of financial institutions, and they offer many similar products and services. But, credit unions are structured differently than banks.
For starters, credit unions are not-for-profit cooperatives, as opposed to banks, which are for-profit corporations. But, what’s the difference?
As not-for-profits, credit unions return profits to members in the form of better rates, fewer fees, and more financial services. Banks return profits to stakeholders. At a credit union, you're not only a member, but you're also an owner. By putting your money into the credit union, you “buy” a piece of the cooperative model.
This model means you not only save more as a result of lower rates and fewer fees, but you’ll benefit from member-only discounts. Credit unions often partner with local businesses to save their members money on everything from sporting events and concerts to festivals, trade shows, and auto loans.
And when it comes to buying a car, discounted rates can really add up. Take the BECU Fall Auto Event, for example. From September 14 to 16, you can buy a new or used car from a participating local dealer and take 0.50 percent off current auto-loan rates. Not only will you get the vehicle you’ve been wanting, but at a price to satisfy your budget. (Don’t know how much you can afford to spend on a new vehicle? Check out BECU’s handy monthly payment calculator here.)
BECU is one of the nation’s leading not-for-profit credit unions. They are committed to offering better rates, fewer fees, and more affordable financial services.
The BECU Fall Auto Event is happening September 14 – 16. Purchase a vehicle from a participating dealer during that time, request BECU auto loan financing, and take an additional 0.50 percent off current auto-loan rates! Not all applicants will qualify.
Learn more and find participating dealers at www.becuautoeventnw.com.