Corporate America Family Credit Union (CAFCU) is an epitome of financial empowerment in the competitive banking environment that can be witnessed in America today. Being a member-owned finance cooperative, CAFCU has stood out due to its concern on the needs of members at the cost of higher profits, making Forbes to nominate it as one of the Best Credit Unions in America. This informative guide can offer you everything you have to learn about Corporate America Family Credit Union and how it can become your reliable financial provider.
So what is Corporate America Family Credit Union?
Corporate America Family Credit Union is a member-owned, non-profitable financial cooperative that serves communities in various states after a number of years. CAFCU differs in that it has one mission as opposed to the traditional banks whose mission is to generate profit to shareholders.
It is a cooperative owned by members formulated in a way that all the members are part owners, thus they have a voice in the way the institution is run. Such customer-focused model leads to superior rates, little to zero fees, and personalized service that can hardly be rivalled by conventional banking establishments.
Membership Enrollment and Qualifications
The attractive features of the Corporate America Family Credit Union are its open membership requirements. This credit union has extended their field of membership, so that a much larger community can use this credit union, thus it is easy to join the credit union as an individual or family.
Members can qualify to join CAFCU by residing or working within the radius of 25 miles out of any CAFCU branch. Moreover, members of a few Select Employee Groups (SEGs) as well as relatives of the existing members of CAFCU may also join. Such an inclusive strategy would make many people able to reap the rewards of being a credit union member.
Membership is quite easy and the procedure is meant to induct new members to the CAFCU family. After you join, you will be electrified to all the products and services of the credit union as well as the advantage of being a member of a financial cooperative controlled by its members.
Services and product offered
Corporate America Family Credit Union is a full service credit union that provides a complete portfolio of financial products and services that address the wide range of member needs:
Banking Services
The CAFCU offers conventional banking services with a twist towards members. They have checking accounts that are free of monthly charges which would allow the members to have an affordable way of managing their daily financial situations. Competitive interest rates are available in the savings accounts, thus enabling members to increase the money in their accounts in a better way compared to many conventional banks.
Lending Solutions
The credit union is also excellent when it comes to offering low rate loans of different categories. Corporate America Family Credit Union has competitive rates, and flexible terms on personal loans, auto financing, as well as home mortgage. Being an accepted mortgage seller, they offer trusted and safe home financing packages which include fixed-rate as well as adjustable-rate mortgage products.
Credit Cards
Low-rate and member-friendly terms and conditions by CAFCU are provided in credit cards. These cards usually have low interest rates as compared to the traditional bank credit cards, have fewer charges as well as having good rewards programs.
Investment and Financial Planning
In addition to simple banking, the Corporate America Family credit union offers free investment services and financial planning solutions to enable its members to meet their long term financial objectives. They provide financial knowledge and reportage to enable the members in making informed financial choices on the future.
Advantages of joining different family credit family credit union of Corporate America
There are many benefits in banking with Corporate America Family Credit Union which goes beyond competitive rates and low fees:
Member Owned Structure
Being a member-owned cooperative, CAFCU shares the profits with its members through a better rate, reduced fees, and superior services. This structure would not only guarantee that the profit of the credit union directly benefits its members but it will also make sure that its members have a direct effect on the success of the credit union.
Regular Reducing Rates
Members also experience a steady low rate of loans and high rate of savings returns as compared to normal banks. This disparity will lead to big savings in the long-run, particularly when one involves making large purchases such as apartments and automobiles.
Low or no-cost services
CAFCU also offers no- or low-stream banking as well as lending services. This covers such services as free checking, minimal-cost access to the ATM and low-cost loan products.
Advanced Technology
The credit union makes investments in high-tech forms of technology in order to offer its members easy access to online banking, mobile, and digital financial management tools. These state of the art innovations also help the busy members to access and use banking in a more convenient and efficient way.
Financial Education
Corporate America Family Credit Union does not only provide financial education and literacy programs in addition to conventional banking. These tools facilitate the creation of informed decisions by the members and enhance their financial wellbeing.
Where Locations and Accessibility
Corporate America Family Credit Union has a strategic web of locations to ensure that it provides services to its members. Although the credit union originated in Illinois, it has increased its reach to various states which include Arizona, California, Connecticut, Georgia, Illinois, Kansas, North Carolina, Ohio, Pennsylvania, Texas, and Virginia.
Accessibility is not only greeted through physical branches of the credit union. Through the following members will be able to access their banks and make the banking transactions there:
Full blown online banking system
– Banking apps on the phone
Surcharge Free ATM networks
CO-OP Shared Branch branches
– telephone banking services
This multiple channel strategy will make it possible to allow members to bank at convenient location be it home, work or travel.
Local Impacts and Principles
The mission of the Corporate America Family Credit Union is not limited to the scope of financial services but it aims at the empowerment of the community. The credit union takes an active role in sponsoring the local communities that helps in spreading capitalism and financial literacy.
This is evident in the way they are committed to contributing to their goal of empowering financial success to the members so that they can realise their dreams in the economic realm. This is the kind of philosophy that seeps through in every single thing they do, be it product research as well as customer service.
Membership of the Corporate America Family Credit Union
Become a member of Corporate America Family Credit Union by simply figuring out whether you are eligibility and that is done by going through the eligibility section. After ensuring that you have met the membership criteria, you can make an application to join by logging online, calling or visiting any of its branches.
Joining process usually demands the following:
Eligibility evidence (proof of either address or employment)
– Valid identification
Opening deposit on joining your membership share account
Sign up of membership
When new people become the members of a credit union, they get all the necessary information regarding the available services and their benefits so that they could make a maximum out of utilizing their credit union membership since the first day they become its members.
Conclusion
Corporate America Family Credit Union is the epitome of cooperative banking with its concern on its members but also on its financial products being competitive, and in commitment to the community. Need solutions to your routine banking needs, huge loans products or the long term financial planning assistance, CAFCU has got the equipment and expertise to ensure that you are successful.
The fact that Forbes considers the credit union as one of the best credit unions in America proves that they are dedicated to quality and customer satisfaction. With your being a Corporate America Family Credit Union, you are entering into a community. You are not merely entering into a financial establishment. You are becoming part of a group of people committed to your financial stability and prosperity.
Where the people turn to a banking alternative that really does exist, there is a strong and solid solution, called Corporate America Family Credit Union, where they can be assured of addressing their needs and to provide outstanding and significant value and services.
(FAQs) About Corporate America Family Credit Union
Q1 How is the Corporate America Family Credit Union unlike the normal banks?
Corporate America Family Credit Union is a not-for-profit cooperative who is owned by its members; that is, every member is also part-owner. This design enables CAFCU to ensure continuously lower rates of loans, better interests earned on savings, and less cost of transactions than what is obtainable in conventional banks. the credit union values its members and allows them to benefit through it, as opposed to the shareholders making profits, thus offering a higher value and customized services.
Q2 Who can join corporate America family credit union?
Qualifiers have to include people who live, or work within a radius of 25 miles of where the CAFCU branches are. Moreover, the employees of some Select Employee Groups (SEGs) and those relatives of the existing CAFCU members can become members. To serve more people in various states, the credit union has increased the membership requirements.
Q3 What are the loans offered by Corporate America Family Credit Union?
CAFCU also offers a fully equipped loaning facility such as personal loans, vehicle financing, home mortgaging, and credit cards. Being endorsed as a mortgage seller, they present fixed rate mortgage as well as adjustable rate mortgage. Competitive rates and member-friendly terms are available on all loan products that are created to save money on the interest rate over the life of the loan.
Q4 What is the method of accessing my Corporate America Family Credit Union accounts?
The accounts can be accessed by the members in various convenient means through online banking, using mobile applications, visiting branches, surcharge-free networks of ATM machines, CO-OP Shared Branches, and telephone banking services. With this multi-channel idea, you can be able to bank at the comfort of home, work or when travelling.
Q5 How much to the accounts in Corporate America Family Credit Union cost?
The fact that CAFCU offers no or low cost services is one of the major advantages thereof. They provide free checking accounts, good savings accounts rates and low fee charges on other services. The credit union is owned by its members hence able to maintain low fees as they offer high quality financial services and sophisticated tools of technology.
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