CU on the Road!

Credit unions come to the ND State Fair to dispel myths

The Credit Union Association of the Dakotas (CUAD) “CU on the Road” tour, will be the ND State Fair at Gate C on Tuesday July, 24. CU on the Road is a grass roots awareness campaign being conducted by the Association across the Dakotas.

CUAD’s Robbie Thompson and Kristie Heit will be on location in Minot, where they will have the CU on the Road vehicle filled with balloons – and having people guess how many there are for a chance to win $100. They will also have information on credit unions, and be available to answer any questions.

“There are so many myths surrounding credit unions,” stated Robbie Thompson, CUADs President and CEO “being able to talk with people face to face and answer questions is a great way to dispel many of these myths.”

What is a Credit Union?

A credit union is a member-owned, financial cooperative, democratically controlled by its members, and operated for the purpose of promoting thrift, while providing loans at competitive rates, and providing financial services to its members.

Common Credit Union Myths

Myth: Credit unions have too many membership restrictions, making it difficult to join.

Fact: While legal statutes do require that credit unions maintain some level of “membership commonality,” it

is easy to find a credit union that you can join. Many credit unions today have broad fields of membership that

can be as simple as where you live, work, worship, or attend school within a specific geographical region.

There is a credit union that you can join closer to you than you think!

Myth: Credit unions don’t have all of the services that banks offer.

Fact: Credit unions are full service financial institutions that provide the entire gamut of financial products

and services – loans, checking, savings, investments, and electronic services such as online banking, bill

payments, ATMs, debit cards, and mobile services.

Myth: Credit unions are not as convenient as banks.

Fact: Credit unions are more convenient than ever. Through a network of thousands of credit unions,

members are able to conduct business easily, wherever they are. Credit union members can have ATM

cards linked to a network that eliminates surcharge fees. These ATMs are in convenient locations across the

Dakotas, and across the country. Many credit unions offer ATM cards with access to networks that provide

over 800,000 ATMs nationwide.

Myth: Credit unions charge a fee to join.

Fact: In general, credit unions do not charge a “fee” to join. It is true that many credit unions require new members to

provide a minimum deposit to join, but this is far from a “fee.” The minimum deposit is often as low as $5, and

should the account be closed, 100 percent of funds are returned.

You can learn more about the CU on the Road tour on Facebook; Twitter @CUontheRoadDAK; and the Website

Check us out at Gate C at the North Dakota State Fair July 24!







Leave a Reply

Your email address will not be published. Required fields are marked *