Credit Unions are structured differently than traditional banks, and they often play a more active role in the local community. Since every account holder in a Credit Union is also a member, the institution and its employees develop a genuine rapport with people in the surrounding area.

This continuing involvement in the community is evident through the different types of loans that are available through a Credit Union. Whether the loan is for a new vehicle, a home improvement, bill consolidation, or a wide array of other purposes, local Credit Unions invest heavily in the future of their members.

Loan Specials

The flexibility of a Credit Union presents substantial benefits when compared to a traditional bank. This includes offering higher interest rates on savings and money market accounts and lower rates on loan products. Credit Unions regularly offer unique specials and promotions to their members in order to make the loan process even more rewarding. These specials may include substantially lower introductory interest rates, a hardware store gift card with a home improvement loan, or a gas card for an auto and truck loan.

Wayne Westland Federal Credit Union is currently running an “All American” loan special to celebrate America’s favorite national pastimes. For those who have a love of baseball, barbeques and family, there is no better time to get a loan for all of the important needs that have been waiting for attention.

Each member that closes a new loan will have a chance to spin the All American prize wheel. There are many available rewards, including Detroit Tiger Baseball tickets, dinner for two, a family outing to Cedar Point, a Detroit Tigers baseball cap, $25 gift card, and a variety of other prizes. With interest rates remaining at historic lows, members can get an exceptional deal on a new loan and a chance for a great prize as well.

Credit Union Advantages

Since Credit Unions were established as “not for profit” institutions, their sole focus is to provide quality banking products and services to their members. In addition to outstanding loan rates, a Credit Union’s tax exempt status will also result in reduced user fees. When the fiscal year ends, any profits that have been earned are returned to members in the form of dividends.

While traditional banks continue to look for creative ways to raise fees and inflate profits, Credit Unions will continue to serve their members by offering an exceptional banking environment and a little old fashioned fun.