do you have to be in a union job to use a credit union & do you have to have good credit?

Answer 1

No on both counts.

Answer 2

No. Credit unions don't require you to be in a union, unless that particular one is union-specific. The Credit Union concept is based on the fact that every person who banks there is considered an owner or stakeholder. When you deposit money into savings, you are basically investing in the credit union. They don't pay stockholders, so they reinvest their profits by paying you higher rates on your savings and charging lower rates on loans than banks do.

That being said, they do have some requirements to be able to join. Much of this has been opened up lately, where it's fairly easy to join most of them. Many are ok to join if you either live, work, or worship within their area. Some even let you join if your boyfriend is a member.

Credit unions are often a bit more lenient and flexible when it comes to lending, compared to a bank. They also are much nicer to deal with if you do have problems. And they will spend more time with you discussing how to improve your credit to qualify for their products.

Call a few of your local credit unions, and find out if you qualify to be a member. Overall, they're so much better to work with than banks are, so find one to join. You'll probably like it much better than any banking relationship you've ever had.

Answer 3

Many Credit Unions take customers who are not union members. You would need good credit only if applying for a loan. Savings and checking accounts don't need good credit to open.

Answer 4

Dear Reynolds,

I've been a credit union member since 1972.

It used to be that a person had to work for the company or be related to an employee. Then they opened it to friends and community members and banks took them to court to limit the customer base. The credit unions won and for the past few years mine has been advertizing in the papers around the state.

Answer 5

Neither is required.

You can use a credit union if you live or work in the county that the credit union serves.

What services are available to you may be partially determined by your credit report, but at the very least you should be able to have a shares (savings) account regardless of your credit.

Answer 6

No. Some credit unions accept anybody. Last I recall, credit was not an issue when joining a credit union, 'cause I didn't have any when I joined one a loooong time ago.

Answer 7

No.

Credit Unions have NOTHING to do with workers unions (thank goodness!), and you need no better credit than you do to open a regular bank account...

Answer 8

Credit Union membership eligibility has become VERY loose in many cases. Some essentially require you to live in their service areas and have a temperature above 98 degrees. You'd have to talk to each CU to find out their membership policies.

Answer 9

This has many angles! a million. Many employers evaluation your credit as area of your history examine. in the experience that your credit is undesirable; it particularly is an illustration of instability. they could no longer hire you (because it particularly is there decision) or might start up you off on the backside salary achievable. freshen up your credit (extraordinarily in case you artwork at a economic corporation (in case you're working with my money you extra effectual understand the thank you to preserve yours)). 2. How do you by twist of destiny provide out $3,000.00? till somebody from the hot potential company unearths out approximately this so called "twist of destiny" you may no longer have something to agonize approximately. 3. Is the credit union retaining YOU to blame for the lost/stolen money? if it particularly is the case, and you signed something once you have been employed, they might have the superb suited to checklist this to the credit bureau to boot as sue you for the restoration of the money. sturdy success and prefer I reported, freshen up your credit!