Why Pick A Credit Union For Your Credit Card?

When it comes to credit cards, is it better to get one from a bank or credit union? If you want a credit card that has tons of protections and benefits, picking one from a credit union is a must.

Credit Unions Care About Their Members

As a member of a credit union, you become a part owner. Credit unions value and care about their members more than banks, which is apparent from the perks of a credit union credit card:

Lower fees and interest rates

When it comes to getting a credit card from a credit union, they are known for lower fees and interest rates. The Pew Foundation, a nonprofit public interest group, on a survey of 400 cards, found on average credit unions advertised lower interest rates than banks. The survey also found that credit unions levied lower fees and penalties than banks, meaning choosing a credit union for your credit card may be the best financial option out there.

Valley Credit Union can help you understand what fees and interest rates are associated with our credit cards, and what the best credit card option is for you.

Interest rate caps

Interest rates can be a huge burden on the card holder, especially when they’re exorbitant. Credit cards issued by Valley Credit Union have an 18 percent maximum. Banks, on the other hand, will have much higher interest rates.

Member-owned, not dictated by Wall Street

Credit unions are member-owned, meaning the actual credit union is owned by the members rather than Wall Street. Credit unions don’t have to please a board of investors - they want to please and provide for their members. One drawback of being member-owned is that to get a credit union credit card you generally have to be a member of the credit union, so signing up for an account with the credit union is mandatory. VCU makes that easy, you can sign up to become a member all online, it only takes a few minutes.

Valley Credit Union’s Credit Cards Provide Many Benefits

When it comes to a credit card, you want to know you’re getting the best of the best. With Valley Credit Union, our credit cards have many different benefits, all of which provide the best value to our members.

Help you save

Our Mastercard credit card offers great interest rates as low as 9.00% *APR. Plus, NO Balance Transfer Fees and NO Annual Fees! Our cards help you save money through:

• Low rates*
• No processing fees
• No annual fee
• Minimum payment is 3% of the loan balance
• No cash advance fees
• No balance transfer fees

Card Valet protects your information

Your personal information is important and needs to be secure. With Valley Credit Union credit cards, our Card Valet gives you the security you need. Card Valet is a debit and credit card fraud mitigation and management tool that enables cardholders to control when, where and how their cards are used, ensuring you have full control over your personal banking.

Our credit cards also come with an EMV Chip, which provides added security to our cardholders and is the global standard for credit card and debit card payments. This technology features payment instruments (cards, mobile phones, etc.) with embedded microprocessor chips that store and protect cardholder data.

Rewards you choose

When you pick VCU for your credit union credit card, you get to choose your rewards! With uChoose Rewards, cardholders can select from 3 to 4 million merchandise redemption options, or redeem points for gift cards at more than 100 retailers that cover dining, entertainment, gas, travel and retail purchases. There's even a cash back option! uChoose Rewards makes it easier to get points because cardholders can pool points across all registered cards and accounts.

Pick Valley Credit Union For Your Credit Union

If you’re searching for a credit union you can depend on for customer service and incredible security, look to Valley Credit Union in Salem, Oregon. We are a friendly and local credit union with your best financial interests at heart, and we have outstanding personal banking accounts, debit cards and credit cards. Contact us now with your questions!

*APR = Annual Percentage Rate. The interest rate a member pays is based on the member's creditworthiness, credit history, and term of the loan. Loan terms may vary depending on amount borrowed and credit history. All rates are subject to change at any time. Membership requirements apply.

About the Author

 Justin Roberts, Vice President of Lending

Justin Roberts is our Vice President of Lending and has been in the financial industry for over 18 years. He is an Oregon State University Graduate and has just completed Western CUNA Management School. When he is not focused on helping the members at Valley, you will find him coaching his two sons and volunteering his time to help develop the youth in our communities through sports.