How are Credit Unions different from a Bank?
Members, not shareholders, own Credit Unions. That means all the profit that Credit Unions do bring in goes right back to members—in the form of dividends, rebates and lowered interest rates.
In the last year alone, Credit Unions distributed over $5.3 billion back to members. >> See more on Credit Unions vs. Banks
How to Break Up with Your Bank
- Before you cancel your bank account, open up a new account at a Credit Union. >> Find a credit union near you
- Set up direct deposit with your new credit union
- Make sure all the checks you’ve written have been cashed.
- Double check that all automatic payments on your old account have been closed or switched to your new account.
When You’re Ready to Cancel
Have all your identifying documents on hand:
- Your account numbers (checking, savings, pins)
- And a state-issued ID
After You Cancel
Ask your banking representative for confirmation that your account is indeed closed.
Already a credit union member? Spread the word! Share the benefits of being a part of a cooperative with your family, friends, neighbors, mailman. Help us help you!