Choosing the RIGHT Financial Institution
Wednesday, November 30, 2016

 By Porsche Miles-Grant

At this point, as a responsible adult and a productive citizen of America, you should belong to some type of financial institution. Whether it is a bank or credit union, your finances should be located in a safe and secured place. 
However, if you are looking for the RIGHT financial institution, one that caters to your financial needs, wants, and desires, one that truly cares about your financial future, and one that recognizes a community’s financial state is critical to the success of the community; a credit union is your best choice. Don’t believe me? Well here is some valuable information to consider. 
Unlike banks, credit unions are member-owned, not-for-profit and cooperative financial institutions. In other words, you actually own your money, and have a voice in the decision making process. Overall, members hold all the power. They are the ones who elect the volunteer board of directors, in which are tasked with overseeing the credit union’s strategy. Not to mention thus far, 4.8 million people in Michigan have already committed to joining a credit union. So what are you waiting for? The perks of joining a credit union are everlasting. As a member, not a customer or client, you are able to receive low rates on auto loans, credit cards, and interest rates. You are also able to avoid a plethora of fees associate with services and products of a financial institution (credit & debit cards, savings accounts, ATMS, balance transfers and much more). In addition, members are privy to financial literacy workshops, and tons of money-saving discounts. Believe it or not, the list of benefits goes on and on and on.
One of my favorite reasons I chose a credit union, was due to its economical products and services. Credit Unions tend to offer higher rates of return on savings accounts and often gives back to the community. Did you know, according to Credit Union National Association, more than 100 million Americans currently use the 6,900 credit unions in the country. In my opinion, it is much easier to open up a checking or savings account. From experience, I can attest to the fact that credit union’s care about their members. When you are faced with a financial dilemma, and banks have denied you financial opportunity as a result to your financial past, it is credit unions that take in consideration all the facts, and make wise decisions that steer you towards financial freedom. It is also credit unions that actively service the communities that they are a part of. The next time you are in attendance of a community event, look around to see what financial institutions are volunteering their time and efforts. I guarantee, a credit union will be present. If those are not enough reasons to make you consider choosing a credit union over a bank, contact me today, and I’m sure to give you more!
Porsche Miles-Grant is a Certified Financial Counselor and the CEO and Founder of Financial Success Services, LLC.  She can be contacted at 313-753-2696 at  She may also be found on Facebook at 
Printed in the November 27 - December 10, 2016 edition.

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