A Comparison Between Credit Unions and Banks in Portland Oregon
Posted: Dec 25, 2018
If you are in need of a loan and do not know who to go to between banks in Portland Oregon and an Oregon credit union, it is best to compare the advantages and disadvantages that they have to offer. This way, it will be easier to make a choice.
Let’s start with banks. What happens when you first walk through the door? You have to wait in line to talk to a bored consultant. Of course, the moment they learn that you want to apply for a loan, their face lights up and they immediately smile. After checking your credit score and making sure that it meets their standards, they will start talking about all of the options that are suitable for you, but will point to one in particular.
Do not even think that they will be guiding you towards the best solution for you. They will be doing what they can to convince you that this is what they are doing when in fact they are trying to get a higher level of commission. No matter how you look at it, this is unacceptable. The undeniable truth is that for banks in Portland Oregon, you are nothing more than a client. They do not care about the fact that you will be making monthly payments.
They just want to make sure that you also opt for additional services so that you end up paying all sorts of fees at the end of each month. The only advantage that banks have to offer is that they will ultimately approve your loan application, but only if you meet certain requirements. The good news is that the right Oregon credit union is quite the opposite. First of all, when you first walk in through the door, the consultant that you meet will greet you with a smile.
You do not have to do anything special, just sit down and start talking about your situation. They will pay attention to you and everything you have to say from the moment you get inside the building. This way, they will be able to offer you access to a variety of financial solutions that can help you solve your issues. When they try to guide you towards the right one, they do not have any hidden agenda. Their goal is to actually help you. This is how they build trust.
When you first learn about the option of relying on a credit union, you immediately say no because you are used to contacting banks. Well, as you can see, the first option is better than the second even if your local bank might have you think otherwise. For a credit union, you are a member and even more than that. All members are also co-owners of the institution. This makes is pretty obvious that this establishment has a different business model. When you need a loan, don’t just go to your bank.
Try visiting a credit union first and see what happens. Most certainly, the consultants that you meet there are going to be polite and run your credit check without any judgement. If it is not that good, they will at least provide advice that will allow you to improve it as soon as possible. This way, you will be getting that loan sooner than you thought. With banks, if they can’t "help" you get the loan right away, they lose interest the moment they realize it. There is no real reason why you should trust this kind of lender.
It would be much better if you would switch to credit unions, which are designed to meet the needs of their members, regardless if they need a loan or want to go up the real estate ladder. What you should know about this institution is that it offers similar services. However, if you were to compare interest rates, you would realize that the ones provided by your local banks are much higher. That is why you should not make any final decisions before you do some research regarding existing lenders, the services that they have to offer and the different advantages that you can benefit from. Make sure that you also read some reviews written by other clients or members!
As you can easily see, an Oregon credit union is a much better option than relying on banks in Portland Oregon ( https://www.onpointcu.com ). If you would like to find out more about the services of a credit union, make sure that you pay our website a visit today!
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