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Convenience. Fair Rates.
Low Interest Loans.
We could go on and on...
(Banks vs. Credit Unions)
Are We Different?
Yes, we're different. We're a Credit Union.
We are a member-owned, not-for-profit, financial cooperative.
That is our foundation -- our basic business model. It makes it impossible for us to put profits before people. Some say that's a foolish notion but it has worked in the world since 1864 and has been a growing movement in the United States since 1908.
Today -- with profit maximizing and consumer manipulating key results in other types of financial institutions -- the credit union model makes even more sense. And it easily partners with other cooperative ventures and movements now occurring in the economy and on the Internet.
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Today, you might just want a low-cost car loan. A fee-free ATM. A straightforward credit card. Some advice you can trust. But when you stay a spell and learn a bit, you'll find that a credit union is just a very good idea; one that's as viable in today's world as it was hundreds of years ago. And, best of all, one that brings real value and advice you can trust.
The bottom line is that Bay Cities offers unbeatable advantages to our members because we're member owned, member operated and (ready for this?) not-for-profit. What does that mean to you? Well, any revenue we have generated after our expenses and reserves are met, is given back to our members in the form of better rates and better services. It's about growth, it's about prosperity, it's about security, but most of all it's about YOU!
For more information about membership, call 510-690-6100. A Financial Service Representative will gladly assist you to see how you may qualify for membership:
- an immediate, eligible family or household member
- through an eligible organization
- through your Local or Union
- through your company
And remember, credit unions including Bay Cities have definitely kept up with the times! We offer the same high-tech services as your local bank, like home banking, online bill pay, and online loan applications. But even better, in general, if we are going to charge you a fee, it will be much lower for these awesome services than a bank would charge.
Want more? Read on...
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A Credit Union
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A Bank
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A Credit Union has members, not customers. Everyone with an account has a share of ownership in the Credit Union. Therefore, you are actually an owner and not just another account number.
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Banks have owners, usually a group of investors. Banks exist to make a profit for their owners.
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Credit unions are democracies. We are run by a volunteer Board of Directors elected from the membership. Every member - that means YOU - has a vote in how the Credit Union is operated.
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Banks are run by their investors, who have the sole voice in how things are done.
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Credit unions are not-for-profit organizations. After expenses are paid and reserves set aside, all money surpluses are returned to YOU the member in the form of higher dividends and lower loan interest rates.
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At banks, only investors see a share of the profits.
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Credit unions serve only certain groups of members, like those working for a particular employer or living in the same neighborhood. This specialization allows credit unions to focus on the needs of a certain special group of people.
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Anyone may open an account at any bank. Customers sometimes become lost in the shuffle or "just another number."
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