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When I moved from Oregon to California, it prompted me to ponder if a long distance relationship with my local credit union would work, or if I needed to consider breaking up and switching to a national bank.

I researched interest rates and account fees to find a suitable replacement, but ultimately just couldnt bear parting with my beloved credit union.

Here are five reasons why it was easy to stay with my credit union:

1. No Hidden Fees

My credit union made my options clear from the beginning, and I’m proud to proclaim that I have never paid a single overdraft fee! If I come close to overdrawing, I can have funds automatically pulled from my savings account or have the charge denied at the time of purchase. My checking account also reimburses me for the fees associated with surcharge-ATMs as long as I meet simple monthly requirements, like using automatic deposit and enrolling in online banking.

2. Same Federal Protection

Just like the FDIC insures banks, most credit unions are insured through the National Credit Union Administration (NCUA). The NCUA is an independent federal agency that regulates, charters, and supervises federal credit unions. They provide insurance of up to $250,000 to more than 90 million account holders in all federal and a majority of state-chartered credit unions.

3. Better Rates

By definition, a credit union is a not-for-profit financial cooperative, owned by its members. That means the credit union’s profits don’t go to shareholders, but directly back to its members in the form of better interest rates. According to data provided to NCUA by DATATRAC, Inc. the national average bank credit card interest rate is 13.19%, while the credit union national average is only 11.65%.

4. Great Customer Service

The credit union motto is Not for profit, not for charity, but for service. I have always found this to be true, even in emergency situations. Last year, I was a victim of credit card fraud. Every credit union employee I spoke to during this terrible situation was sympathetic and helpful. With their assistance, I filed a fraud report and quickly resolved the problem with relatively little hassle and inconvenience.

5. Convenient Locations

Another credit union motto is “Once a member, always a member.” I do the majority of my banking online, but not having immediate access to local branches in California was still a big concern. Thankfully, my credit union participates in the CU Service Centers Network, which means I have access to my account in credit unions throughout the country.

Bottom Line: Moving out of state didn’t interrupt my relationship with my credit union. With competitive rates and superior customer service, I have a feeling that this is going to be a lifetime love affair.

Where does your loyalty lie? Show your bank/credit union some love in Credit Karmas Reviews Section.

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