Why Join a Credit Union

Feb 6, 2023 4:53:54 PM

Looking for a change? It's never a bad time to reassess your finances and where you bank. Most people resort to using traditional banking services out of convenience and lack of knowledge on other options (such as a credit union). Read on to learn more about what a credit union is, why you should join one, and why Harvard Employees Credit Union may be an excellent fit for you!

What is a credit union? 

A credit union is a not-for-profit financial institution that has members, rather than customers. As a credit union member, you are part of a tight-knit community that each owns a share of the union. What this means is that unlike other financial institutions, profit earned by the union is returned to the members it serves in the form of better services. In comparison, banks are for-profit, meaning they are in the work of maximizing their profits, distributing the profits, in the form of dividends, to their stockholders.  

Why join a credit union? 

For personalized service and better rates.  

Member Service

Given the emphasis on community, credit unions offer the most personalized customer service you can find. The focus is 110% on members and this can only benefit you! In fact, Consumer Reports found that up to 95% of credit union members are highly satisfied with their financial institution. Thus, if getting great and personalized customer service is for you then, you may want to consider joining a credit union.

Better rates

Because credit unions are not-for-profit, any profit that the credit union makes is reinvested in the products and services, and one way this is usually done in the form of lower rates on loans and higher savings rates. Because for profit banks have the added responsibility of paying their stockholders, they often cannot provide these attractive rates. However, when the owners are the ones that are served, that is not an issue!  

Why should you choose HUECU? 


At HUECU there are an endless amount of benefits that make it unlike any other credit union. For one, our financial wellness program, THRIVE, brings you award-winning personal finance education and expertise. From live webinars to video content, blog articles, and personal finance worksheets, THRIVE is designed to empower you in your financial journey. Our focus is on you and your financial wellbeing.


At HUECU, we know the importance of inclusion, which is why we are multilingual and can offer assistance in various non-English languages. We also welcome anyone who is international, has no credit history, or has low credit scores. HUECU is not only for the financially stable. In fact, we work with you to help increase your credit score, find ways to pay off debt and reach your financial goals. So, if you are seeking a financial institution that truly cares about you and your financial betterment, look no further.

We care about your family too

When you become a member, your family is also welcome to join. Just as we are dedicated to you and your finances, you can count on us to provide those same services and care to your family as well. Not to mention, membership is for life. Whether you graduate, move, or change employers, HUECU will be with you.  


Who doesn’t love a good discount? At HUECU, we offer our members discounts they can use all over Harvard Square and beyond. This includes 20% off HSA Tutoring, as well as The Academies, which offers enrichment programs for high schoolers. As well as discounts to HSA Cleaners and Dorm Essentials and at The Harvard Shop. 

Tags: Credit Unions, Benefits