Everyone needs a safe place to save their money until it is needed. Also, there must be a place to keep the money needed for day to day transactions. The way today’s society works, it is almost impossible to get by using only cash in hand. Often, utilities and house payments must be mailed to corporate offices. If one is making payments on a vehicle, furniture, or appliances the payments must be sent to a central financing office of some sort. Sending cash in the mail is no longer safe. Even people who do not trust banks can trust a federal credit union.
A federal credit union works differently than most banks. The focus is on its members, not on profits for investors. Credit unions such as Pearl Hawaii Federal Credit Union have a long history of providing financial services to the community. Credit unions have membership requirements including working and residing in the area they serve. Credit unions offer services such as a Residency Loan, home and car loans and community services. Many people trust credit unions more than commercial banks. When members of a credit union run into financial trouble, they can turn to their credit union for help and advice. Often credit union employees know their customers better than a regular bank teller would.
A credit union does more than offer savings and checking accounts to its members. They offer a Residency Loan service, other affordable financial services and products, technical assistance, and educational resources. A credit union can offer educational loans, car and home loans, and many services to support its members. Credit unions are part of their community and often take part in community events and programs. Credit unions can set up payday loans at fair rates to save members from other predatory lenders and they can arrange emergency loans for members in crisis. Members can cash paychecks at one of the convenient locations and also make payments in person if they prefer. Membership is as easy as putting $5.00 in a savings account, paying a $1.00-lifetime membership fee, and filling out some forms. For additional information, browse the website. You can also connect with them on Facebook for more updates!
