If you call the Hattiesburg, Mississippi area home, whether you’ve relocated to this area and you’re looking for a new bank, or your dissatisfied with your existing bank, there are many options for Banking Hattiesburg MS. However, with all the standard banking options, many people consider bypassing traditional banks altogether and choosing credit unions. The fact is that regardless of where you live throughout the country, you’ve likely seen your fair share of credit unions around your local area. The question is, what makes a credit union a more preferable choice than a traditional bank?
When it comes to Banking Hattiesburg MS, many banks charge a number of different fees for the services that they offer, and these fees are ways that the bank uses to turn a profit. In some cases, you can expect that certain fees are necessary for various different services. Sometimes, however, it seems like every time you turn around, banks are increasing the fees, whether it’s fees to keep a checking account or savings account open, or whether it’s increased fees to do something as simple as using ATM machine or cashing a check. This is because banks are interested in the bottom line and, above all else, they want to earn money.
This is where a credit union is much different. A credit union is, for all intents and purposes, a nonprofit organization; they are typically owned by the members. Its reason for being is not to earn money, but it is to provide quality banking services to its customers. This is why banks typically can’t compete with credit unions when it comes to the fees charged for normal banking services. A credit union will only charge as much as it costs to offer specific services since they’re not concerned about turning a profit.
There are many other differences in traditional Banking Hattiesburg MS when compared to credit unions. However, the best thing to do is look for yourself as to what the differences are and if these differences are enough to get you to change from a traditional bank to a credit union, such as Central Sunbelt FCU. If you’ve dismissed credit unions in the past, taking a closer look at how they compare to traditional banks may surprise you in terms of the services they offer and the fees that you have to pay. Visit for more information.