How to Compare Credit Unions in Arizona
Credit unions are nonprofit financial institutions owned by their members. A credit union offers the same services as banks, but its profits go back to its members in the form of benefits such as lower interest rates. Historically, credit union membership was based on specific criteria such as a common employer, but today credit unions are nationwide. Simply by being an Arizona resident, you qualify for membership at a number of credit unions located near you, and you can shop for the one that suits your personal and financial needs.
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Instructions
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Know what you want from your credit union. Make a list of the benefits -- from location to interest rates -- and prioritize them.
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Survey people you know who are credit union members in Arizona and whose financial opinions you value. Since members have a personal stake in the success of their credit union, they will often be happy to recruit more members and share their experiences with you.
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Research specific credit unions in Arizona. Look for credit union signs in your neighborhood, include any credit unions recommended by family, friends, and colleagues, and search online for "Arizona credit unions" (see Resource section). Select at least three local credit unions to contact.
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Contact each credit union you select in person or by phone, and review your list of priorities with a representative. Take note of each answer.
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Compare the answers of each credit union to your priorities list, and choose the credit union meeting all or most of your needs.
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References
Resources
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