A Publication of Great Lakes Credit Union Misconceptions ABOUT CREDIT UNIONS A HELPFUL GUIDE TO MAKE SURE YOU KNOW THE FACTS 4.

A Publication of Great Lakes Credit Union

Misconception

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ABOUT CREDIT UNIONS

A HELPFUL GUIDE TO MAKE SURE YOU KNOW THE FACTS

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TABLE OF CONTENTS

INTRODUCTION

1.Number of ATMs

2.Technologically Behind

3.Lack of Branches

4.Basic Accounts & Services

INTRODUCTION

There is a lot to love about credit unions, especially when they are compared to big banks. They lack the huge conglomerate feel that many big banks have, and they often have a local flavor which lets them focus on customer service.

Credit Unions are often viewed as dull, low tech places that offer services like Christmas savings accounts and vacation loans. But, they can, and do offer much more than that.

There are many misconceptions out there about credit unions which have made some people wary of joining. In the next slides you will find 4 of the most common credit union misconceptions and answers debunking those claims.

Misconception #1

It is true that individual credit unions may only have a handful of ATMs they operate individually. But these days, credit unions offer access to a broad ATM network shared with other credit unions called the CO-OP ATM Network.

That network maintains nearly 4,800 ATMs nationwide, including more than 60 within the Greater-Toledo area.

If you are traveling and need some cash while also avoiding the dreaded ATM fee, you can use a handy ATM Locator App. The App which is found HERE, will use your GPS location to find the closest & most convenient ATM for you.

Number of ATM’s

Misconception #2

Some credit unions don’t have the technology budgets to be at the forefront of every new technological innovation, but that doesn’t mean Great Lakes Credit Union is one of those. Thanks to software providers that specialize in credit unions, many credit unions are able to offer a technology package to customers similar to that of large banks.

Great Lakes Credit Union views upgrading technology crucial to our continued survival in the financial services market. By having this view, we have provided our members with:

Technologically Behind

GLCU Mobile App-Access Account Information-Complete Transfers-Make Bill Payments-Remote Check Deposit

Ask Auto App-Find NADA vehicle values by taking a picture of a VIN #-Complete a Loan Application right from your phone

Misconception #3

Lack of BranchesWhile it is true that no credit union has its own branches

available across the country like a Bank of America or Wells Fargo, this is not a big issue because of the existence of the Credit Union Service Centers Network.

Great Lakes Credit Union is a participant in the Credit Union Service Center Network, so you can do your business at any one of the thousands of participating credit unions’ branches around the country. The Credit Union Service Center Network also released a app that can help you locate the closest branch to you. Click the image links below if you wish to download the apps.

Apple Android

Misconception #4

Basic Accounts & ServicesAnother common belief about credit unions that is rooted in

their history, but not true today is that Credit Unions offer very few services besides savings accounts.

Early credit unions were primarily run by small organizations or volunteers on a shoestring budget, and few services beyond deposits, withdrawals, and small consumer loans.

Nowadays, credit unions including Great Lakes Credit Union provide many of the same financial services as banks, including checking accounts, debit and credit cards, online banking, mobile banking, bill pay, IRAs, mortgages, car loans, business loans, etc.

If you are interested in learning more about Great Lakes Credit Union, please take a look at the next slide which includes all our contact information.

6600 Sylvania Ave Suite 6DSylvania, OH 43560

419-246-5911

Would you like to become a member of Great Lakes Credit Union? Feel free to visit GLCU.com . On our website you have the ability to complete a membership application right from home. If you have any questions, please feel free to contact us at 419-246-5911

580 Craig Dr Suite 10Perrysburg, OH 43551

419-246-5910www.glcu.com