When it comes to financial institutions, it sometimes seems as if the larger banks get all of the attention. Now, this isn't to say that they shouldn't be in the spotlight or that there is something particularly wrong with them. However, it should also be noted that credit unions are also essential and beneficial to their customers as well.
One of the things that make credit unions so great is the fact that they aren't as big as regular banks, for the most part. This may not be a plus for some, but for others having a smaller institution is right up their alley. This is especially true for people who love to build relationships with companies they will be conducting long-term business with.
Depending on where they live and which institution they choose, they may even become so familiar with the staff members that they come to know them on a first-name basis. This doesn't mean that everyone who chooses to go with credit unions will become best friends with their financial advisors, but they will have more of an opportunity to form closer relationships than they would at a regular bank.
Another great thing about these smaller institutions is the fact that they provide opportunities for people to form an affiliation with a business that represents one of their main interests. For example, many of these banks service people who are a part of certain groups or organizations. This includes teachers, military veterans, police officers and firemen, to name a few. Not only are some of these institutions formed in order to service these different groups, but many of them also provide different membership perks and benefits that can't really be found in many other places.
Lastly, credit unions don't necessarily consider their members to be customers. Instead, they see them and treat them as partners or shareholders. Because they are seen in this light, they are also treated a little differently. This doesn't mean that all regular banks mistreat their members, but the truth is that companies tend to hold their shareholders in a much higher regard than the average customer.
Of course, there are some people who aren't really interested in credit unions, even with all of the perks and advantages that come along with them and that's fine. However, there are those who love everything that these institutions have to offer. So, although some people may still choose to go with the larger banks, even they can admit that the smaller alternatives have a lot to offer as well.