Vantage and You, A Union of Financial Souls

So maybe we’re a little impartial when it comes to places that offer financial services. O.K., we’re intensely impartial. We’re down with credit unions, all credit unions. We’re a pretty unique bunch of financial institutions, we are. But when people talk about credit unions as alternatives to banks, many times there are questions, which is good; you want to be as informed as possible when it comes to something as important as your money. So to put minds at ease, let’s take a look at some of the concerns involving credit unions.

Can I belong to a credit union? I thought they had strict membership requirements.
Years ago, that may have been true, but today, almost anybody can belong to a credit union. For example, Vantage is community-based, which means that anyone who lives and/or works (or is related to anyone who lives and/or works) in the communities/zip codes we serve qualifies for membership. We serve St. Louis City and county, St. Charles, Jefferson, Franklin and Warren counties in Missouri, and St. Clair and Madison counties in Illinois. We also serve zip codes and school districts in many other counties. Click here for our complete field of membership. Long story short, membership requirements are much more relaxed. You can pretty much count on a credit union being available for just about everyone. 

Is there a fee to join a credit union?
Credit unions have what’s called a Membership Share. When you join, you basically pay to own your share of the credit union. At Vantage, members pay a whopping $5.00 share to join. This jumpstarts your membership and puts your money into the pool with everyone else’s, which forges the cooperative nature of the credit union. And take note—if you ever leave Vantage, your $5 will be returned to you with no ill feelings. We’re like that…very forgiving on many levels!

Can a credit union take care of all my financial needs?
While some smaller credit unions lack the resources to provide all levels of financial services, Vantage is a full-service financial institution. Our members know we can help with everything from a simple savings account to a mortgage to investment and insurance needs. We’ve even got free or discounted services like financial management advice and tax preparation. Just about anything a bank can provide, we can provide … even better!

Are credit union rates really better than banks'?
We hate to brag, but YES! Here are the simple nuts and bolts of assigning rates—credit unions don’t have stockholders, we have members. That means no heavy breathing down our collective necks demanding huge profits no matter the cost (which here means higher rates to bank customers). A credit union like Vantage can offer better rates because extra earnings made on loan interest income and fees not used to cover operating expense are funneled back to the members via higher earnings and lower loan rates. When possible, we’ve also given cash dividends back to our members!

How about access to my money? Do credit unions have convenient locations?
Vantage Credit Union has 15 branches across the St. Louis area. We also have free online and mobile banking, which pretty much means you have access to your money 24/7. And don’t forget the convenience of ATMs. With the CO-OP Network, you have FREE access to your Vantage account at over 28,000 ATMS across North America.

So there you have it. And of course, if you have any additional questions about Vantage, please call or chat us during business hours. We would love a chance to serve ALL your financial needs!