Serving our membership by saving them money is one of the most gratifying things we do! Did you know you’re saving money just by being an Ascentra Credit Union member? Credit unions typically charge fewer and lower fees than other financial institutions, according to the Credit Union National Association’s (CUNA) latest membership benefits report. Of course, the amount you save has a lot to do with your financial habits and the number of Ascentra Credit Union products and services you use. On average, credit union member households in the U.S. save about $159 a year. That number increases to $175 per member household for all Iowa credit unions and a whopping $339 for members of Ascentra!
Some of those savings come from higher rates on savings products. For example, according to CUNA’s latest report, money market accounts at credit unions earned an average interest rate of .18 percent, while the same accounts at banks earned .09 percent interest. Ascentra Credit Union members earn more than double the average bank rate and are able to earn as much as .60 percent depending on how much is invested!
Lower rates on credit cards also benefit the bottom line. CUNA reported that the average rate for a classic credit union credit card is 11.70 percent versus 17.16 percent for a bank credit card. Ascentra members enjoy a rate as low as 9.88 percent!
Financing a $25,000 new automobile for 60 months at Ascentra will save members an average of $171 per year in interest expense compared to what they would pay at a banking institution. That’s approximately $855 in savings over five years.
Credit unions offer better value because they are non-for-profit institutions owned and controlled by their members. Banks are owned by stockholders who want solid returns on their investments.
Bottom line: If you’re looking for a safe place to save and borrow, without getting nickeled and dimed to death, Ascentra Credit Union is the best deal—bar none.
So visit us today to maximize your membership and see how much more you can save by using our services! We’re here to help serve all your financial needs by listening, caring and doing what’s right.
The Value of Membership:
Credit Unions in Iowa saved members $97 Million or $175 per household.
Ascentra members saved $339 compared to same products and services offered by banks!
Collectively Ascentra members saved $6,175,021 in 2015!