Why College Students Should Consider a Credit Union

If you’re a young adult entering college for the first time, you know you’ve got a lot to handle in the first quarter or semester. Between registering for classes, moving into your dorm or apartment, buying the required books, or just getting to know all your campus has to offer, you may feel overwhelmed. Adding financial stress to your new experiences can make it even more frustrating. Finding the right financial institution to get you through your college years might seem like a daunting task, but it can be easier than you think.

College students often find that a credit union membership is the best choice for several reasons. Here are a few key ones:

We’re a not-for-profit financial institution.

Nowadays, young people who identify as “Gen Z” show interest in turning away from large corporations in favor of smaller, nonprofit institutions. Banking at a credit union fulfills that interest; Polam is a not-for-profit financial institution, and with your valued membership, we make decisions based on your interests and those of other members, not independent shareholders.

Safety and security are our top priorities.

Many people are unfamiliar with credit unions and opt for big banks when it comes to their money and investments because those big bank names can appear trustworthy. However, working with a credit union provides the same kind of trustworthiness and more. When you join a credit union, we have your interests in mind—you’re not just a customer or an account number, but a member.

Our member service is top-notch.

Because you’re a member and not a customer, we have your personal interests in mind when you bank with us. Big banks with huge numbers of customers tend to offer a lower degree of service compared to a credit union. We have friendly and highly-trained teams at our branches that can help you with any financial concerns or questions. We also offer online banking and a free mobile banking app so you can manage your money from anywhere at any time.

Lower fees than big banks.

When you manage your money through a big bank, it’s not uncommon to find yourself bogged down with excessive fees, including, but not limited to, fees for checking accounts. At Polam, we do not charge any monthly fees for maintaining accounts. There is only a low annual fee for using credit and debit cards, which can accommodate any budget.