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Why More Young People Are Choosing Credit Unions

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More young people are choosing credit unions to meet their day-to-day financial needs. Young adults look for accounts and loans at financial institutions that they trust. They also want the latest digital banking features, but the most important part of their banking relationship is having a financial partner that they can rely on to provide expert advice that isn’t simply selling them more products or services. We like to say that this means credit unions like Royal are about people, not profits.

At Royal Credit Union, our core purpose is to make a positive impact in the lives we touch, and the financial well-being of our Members comes first. This unique focus empowers our Members, especially young Members, to reach financial freedom as they experience the credit union difference.

How Is Royal Credit Union’s Structure Different?

Unlike banks or online financial service providers, credit unions like Royal are not-for-profit financial institutions owned by their Members. Members have “shares” in Royal Credit Union’s co-op structure. They also have a say in how Royal operates, with the opportunity to elect (or even serve on) the credit union’s Board of Directors, who make decisions about credit union services and direction.

This Member-owned structure means that Royal is focused on offering our Members the best banking experience possible, rather than being as profitable as possible. Royal and other credit unions return profits back to their Members by providing better rates on loans and deposits and more free or low-fee account services. In contrast, banks and other financial service providers seek to maximize profits for their owners or shareholders. This difference is especially valued by young people looking for a financial institution that they can trust.

Royal Credit Union Has The Latest Technologies

Royal Credit Union offers our Members many of the same digital banking services that are available at the largest national banks and online financial service providers. We have a top-rated mobile app with mobile check deposit, real-time balance and transaction alerts, and even a virtual assistant on to help with everyday questions or quickly checking a balance.

Royal Provides Excellent Service

Since our Members are the owners of our credit union, Royal takes pride in providing great service. As a Member of Royal Credit Union, you’ll find that working with a Royal expert is a very different experience than working with someone at another financial institution. We treat people like people, and because we’re not here to sell you products or services that don’t make sense, our advice is offered with your best interests in mind. We can help you save money, set goals, and most importantly, achieve your dreams. Our team members are ready to be your financial ally, helping you along every step of the way toward attaining financial freedom! We also provide financial education resources to help young adults make informed financial decisions. From our articles to our podcast, our resources can help you be successful by covering all kinds of money and banking topics.

Smart Start Checking For Young Adults

Royal Credit Union offers a checking account specifically for young adults called Smart Start Checking. Smart Start Checking has no minimum balance and no monthly fees. Besides the digital features and superior service mentioned above, it also includes up to two free NSF refunds per year. This means that if you overdraw your account, Royal will refund the overdraft fee up to twice every 365 days.

Members with Smart Start Checking are also eligible for Way-To-Go Rewards on vehicle and home loans through Royal Credit Union. If you have an auto or home loan plus a Smart Start Checking account and you make your first six loan payments on time, Royal will give you a cash incentive!

Open a Royal checking account today to discover how we help make financial freedom possible! Learn more about Smart Start checking and see the full account details and disclosures.

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