In this day and age of big banks, local credit unions tend to get lost in the shuffle.
My husband and I have had an account at Millstream Area Credit Union for several years that relies on direct deposit. Since it is not our main account, we rarely pay much attention to it, except when we get our monthly statements. Two recent incidences, however, have proved to us that we should take a closer look at this great little credit union.
After reviewing a statement, I noticed we were being charged $5.00 a month to have our monies deposited into the credit union. Because of the small amount of money we had deposited, it did not make sense to continue the account with the high fee. When my husband talked to the credit union about the fee, they told us that the board had voted to remove the fee, deciding it was unfair. We were highly impressed. Customer service seems to be absent from many large banking chains, but even without us pointing it out, the credit union realized they were leveling an unfair fee on their account holders. With the current norm being adding rather than deleting fees, we felt this was a huge plus.
In spite of its smaller size, Millstream Area Credit Union offers all the options and services of a large commercial bank, with a personal touch. Most tellers remember account holders' names, and are very friendly.
Along with standard products and services, Millstream Area Credit Union also offers special services such as Christmas Club savings plans, and Christmas loans for the less saving-savvy among us. These Christmas loans allow for extra cash, with a lower interest rate than many credit cards, and a firm timetable for repaying the loan without racking up huge amounts in interest.
Big commercial banks may provide a sense of security (when it's money, the bigger the better, right?) but as Millstream Area Credit Union shows, smaller businesses with a true personal touch can be as effective for your banking needs.