Credit unions have been around for decades, built usually around small communities such as parishes, factories or schools. Their goal is to be an alternative to the well-established banking system. The first Oregon credit union appeared in the 19th century and since then they all have helped people build businesses and gain financial independence. But even with this long tradition, there are still people that don’t really understand what the best credit unions in Oregon are all about.
Why Doesn’t an Oregon Credit Union Invest in Advertising?
One of the biggest misconceptions that people have when it comes to an oregon credit union is that it doesn’t invest in advertising. The truth is that credit unions are member owned financial institutions that rely heavily on word of mouth and referrals in order to drum up business. It’s not that they don’t spend money on advertising, but they would rather keep the money in their accounts and offer their clients more services at better prices.
Take banks for instance. They are usually part of multi-national companies, with multi-million dollar advertising budgets. They have to spend that much money because they can’t just wait for customers to come in to their offices. Also, unlike an Oregon credit union, they use a single commercial nation-wide, because they offer the same services in every state. As you can imagine, buying air time for a national ad costs a lot of money., money that the banks have to recuperate by charging customers higher fees.
Credit unions, although they might have branches in several states, usually cater to the population of a small area, compared to banks, and don’t need to pay for national ads. That doesn’t mean that they do not advertise. Local media is more frequently used in their case, and targeted social media campaigns are preferred. This way, the people handling their advertising can make sure that their message gets to the right people. And this way of getting your message through seems to work, because there are some credit unions out there that have billions of dollars-worth of assets and hundreds of thousands of members.
Is It Hard To Switch From A Bank To One Of The Best Credit Unions In Oregon?
People usually don’t want to move around a lot, especially when it comes to their money. If they’ve found a bank they like, they’ll probably want to stick with it for as long as they can. Yes, changing banking partners can be hard, and choosing to go a whole new direction from the one you are used to can be even harder. But people sometimes have to do it. This is when they start looking into their options.
There is a very popular misconception that switching from a bank to one of the best credit unions in Oregon is difficult. Well, it really depends on what you are expecting to find. Firstly, anyone looking to make a switch like this has to understand that credit unions are a totally different type of financial institution. Even though they offer much of the same services, the way they do things differ from a bank.
Secondly, anyone interested in switching from a bank to one of the best credit union in Oregon has to consider the fact that they are a non-profit organization, as opposed to banks. That means that you might have to sacrifice some of the benefits of working with a big bank, like number of offices or ATM machines, but you will be getting better fees on most services and a more human touch to the entire process.
Switching from one financial institution to another can be hard, but people still do it sometimes. Usually a bad customer experience is what pushes them over the edge and has them looking for another place to take their money to. Credit unions have understood that the switch can be difficult and that is why some of them are offering specially designed kits to help walk people through the process and have them understand how things will be done. Some unions have even gone so far as to organize face-to-face consultation meetings with their potential clients in order to help them cope with the transition. It really is a delicate process. After all, you’re asking somebody to trust you with their money. But there is nothing to be afraid of. You and your money are in safe hands.