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How is a credit union different from just
another bank?
Instead of making profits off their customers,
credit unions give their profits back to their customers! This
happens in the form of higher savings rates, lower loan rates, and
less fees at the credit union. In fact credit unions don't
call people customers. Instead they call them members because each
credit union member is also a part owner of the credit union.
Who can join Piedmont Credit Union?
Every credit union serves a specific group of people. There
are many different groups that may join Piedmont Credit Union.
For a complete list click
here. Once you join the credit union then your family can
also join.
How can I save money?
You can use Direct Deposit or Payroll Deduction to send a portion
of your paycheck straight to your credit union account. This
way there's no chance of accidentally spending the money before you
put it in savings. You can also setup special savings accounts
for things like Christmas, Vacation, or for your kids.
If you
are going to borrow money, the lower loan rates offered by our
credit union can save you hundreds, even thousands of dollars
compared to borrowing money from other places.
How can
I get a loan?
You can
apply for a loan anytime. You don't even have to join first.
Applications are available at our offices or for download
here. In most
cases we'll tell you right then and there how much money we can lend
to you. Direct
Deposit or Payroll Deduction are really easy ways to repay a loan!
Are deposits insured like
at most banks?
Yes. The National
Credit Union Share Insurance Fund, which is administered by the
National Credit Union Administration, insures deposits up to at
least $100,000. In some cases it is even more. This is
why the "NCUA" logo appears at the bottom of almost every piece of
Piedmont Credit Union literature.
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