Here are five of the best credit unions in the Inland Empire.
You’ve probably heard that credit unions are better than banks, but what does that mean? Do you know how they work? Why do you need to use one? What are the best credit unions in the Inland Empire? We’re here to help you with the answers to all of these questions and more.
1: One of the Best Credit Unions is Alliant Credit Union
While financial institutions are often lumped together, not all credit unions are created equal. Some offer better interest rates than others or offer special services for businesses or low-income individuals that others don’t. With so many options out there, it can be hard to know where to start your search. Luckily, you don’t have to sift through dozens of credit unions yourself; we did all of that work for you by creating a comprehensive list of our favourites. When it comes to finding the best option out there, consider these five great picks from California’s Inland Empire.
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2: Ally Bank
Ally Bank may not be a household name, but it’s worth considering if you live in one of more than 10 states where it offers checking accounts. Offering checking accounts is rare for an online bank, so let’s take a closer look at Ally to see whether it’s right for you. There are no monthly maintenance fees on any of its checking accounts, which can save you some money each month compared with what other banks would charge. It has some downsides, though—its interest rates are on par with some local brick-and-mortar banks with better reputations. But since there are no monthly account maintenance charges and your balance won’t drop below a certain amount, Ally could be a good choice for savers who want to skip out on long ATM lines and enjoy low minimum balances. You can open your account either by mailing in forms or by applying online. Getting approved might take longer if you choose the latter method, as verifying your identity requires time when completed via mail. And although many banks allow you to deposit checks electronically from your smartphone or tablet, Ally doesn’t currently offer mobile check deposit capabilities (though they do offer a debit card). Make regular deposits through mobile banking apps and value convenience above all else regarding banking features. These features could make someone else’s bank account a better choice for you.
3: Third Best Choice Is Capital One 360
Capital One 360 (formerly ING Direct) is one of our top picks because it provides a full spectrum of credit card services. It has high-interest rates, no annual fees and low late fees. What sets Capital One 360 apart from other credit unions, though, is its online banking platform. Most credit unions have clunky software at best, so they don’t even provide online banking options to members. Capital One 360 seems to have an edge here over most other credit unions. If you’re looking for a great product on every level, choose Capital One 360. Just keep in mind that their membership application process is rigorous. You need to be a member of another Capitol One Bank account or a close family member or friend who already has a CU360 history before you can apply as a new member. They also ask questions about your income and net worth as part of their onboarding procedures. Other than those two issues, we highly recommend joining Capital One 360 if you qualify for membership!
4: Fourth on Our List is Chase Bank
With more than 5,000 locations nationwide, Chase is hard to beat when it comes to convenience. Along with their traditional branches, they also have easy-to-use ATMs available around town, including more than 100 at grocery stores and convenience stores—saving you time if you’re on a lunch break or want to grab something during your errands. They offer good products for consumers with good credit scores—not everyone can be approved for Chase credit cards, but those who are will find them competitively priced. They also partner with local organizations that provide free financial education and community service events such as food pantries and homeless shelters. It helps empower these communities by teaching them how to handle money better and why it matters even in times of crisis. Not only does Chase help in emergencies by offering low-interest rates on overdraft protection, but they also educate members about emergency savings accounts, so people know how to prepare if another recession hits. For families living paycheck-to-paycheck or trying to get out of debt, Chase offers financial education courses online, so people understand how student loans work along with budgeting tools, so people know where all their money goes each month. This may not seem like much until you compare it to other banks’ offerings, which usually involve additional fees.
5: And Last but Not Least LAFCU
LAFCU started serving residents who wanted a credit union but couldn’t find one that met their needs. Today, LAFCU has grown into a full-service financial institution with over $8 billion in assets and more than 1 million members. They have branches across Los Angeles County. There are several ways to help you save money: online banking helps keep costs down by limiting deposits and ATM withdrawals, for example. Interest rates on savings accounts are far higher than those at most banks – currently 0.40%. Checking accounts give you free access to ATMs – any Credit Union member can use an ATM no matter where it is located as long as there is not a surcharge attached.
