The Top 4 Benefits of Digital Banking With a Credit Union
The modern banking industry is evolving, with many consumers transitioning from traditional banks to credit unions.
Compared to banks, credit unions often have lower fees and better interest rates on savings accounts and loans. And, since they’re community institutions, they often place a special emphasis on relationships and personalized services.
But, there’s one area where many credit unions have historically lagged behind in terms of adoption—digital banking.
Knowing that, if you are thinking about switching to a credit union, you should only consider an institution that offers premier digital banking services. Here are four reasons why.
Advantage #1: Convenience and Control
Today, almost everything you may need from an in-person visit to the bank can now be managed online, saving you a trip to the bank and a wait in line.
If you have a smartphone, tablet, or laptop, you can take instant control of your banking activities and conveniently visit your credit union online whenever the need arises. You have instant, around-the-clock access to your account and can perform a number of banking-related tasks, including:
● Depositing a check
● Checking your balance
● Transferring funds
● Changing your banking settings
● Applying for a loan
With increased access and visibility over your financial activity, you’re better positioned to control your financial future.
Advantage #2: Automated Services
Do you sometimes forget to pay your bills or have weekly payments that you must send manually?
When you digitally bank with a credit union, you also gain access to all-in-one self-service tools that can automate banking processes, such as online bill pay. By setting up automatic payments, you can make sure that you’re never late on a payment again.
But auto-pay isn’t the only automated tool that can improve your banking experience. Top credit unions will also offer financial wellness tools and services like:
● Credit score calculators – See your payment history, credit usage, and score rating—all without impacting your credit score.
● Savings goals – If you have short-term and long-term financial goals, you can set and track those goals. You can also split up your financial allocation so that savings are pooled toward specific goals, such as emergency or education funds.
● Financial health checkup – Measure your financial health according to various financial indicators.
Advantage #3: Robust Security Features
Whether you’re banking online or in-person, federal credit unions and many state-chartered credit unions offer account protection.
The National Credit Union Administration (NCUA) insures, charters, regulates, and monitors credit unions within the country. To that end, the NCUA provides up to $250,000 in account insurance, should the credit union fail or close its doors.
Top credit unions will also provide digital security features to ensure that your online account is just as secure as your physical account. These features may include:
● Automated account monitoring
● Two-factor authentication
● Fraud and theft protection
● Biometric logins
Advantage #4: Financial Educational Assistance
Are you looking for ways to improve your financial security?
When you digitally bank with a credit union, you can access online financial education services through out Partners GreenPath Financial Wellness, and materials, such as:
● Financial counseling
● Housing services
● Student loan counseling
● Debt management services
● Credit report review
In just a few clicks, you can continue to build your financial literacy by virtually meeting with experts who can help you meet your financial goals.
Digitally Banking with North Jersey Federal Credit Union
Digitalism is changing the way we bank, empowering individuals to take control of their finances. And, for credit union members, digital banking provides automated services, enhanced security, and financial education assistance that can transform your financial future.
Are you looking for the best credit union in New Jersey?
At North Jersey Federal Credit Union, our goal is to make your banking easier. Whether you’re visiting us in person or online, we seek to create a seamless experience.
By downloading the NJFCU Mobile app, you can get instant access to your personalized dashboard. There, you can enroll in automated bill pay, transfer funds between your accounts, apply for a loan, and view your account history.
You’ll also have access to a credit score calculator and various financial analysis tools to achieve savings goals, predict future spending, and monitor current spending habits.
Skip the lines, avoid the hassle, and take control of your finances—start your digital banking journey today with North Jersey Federal Credit Union.