So you have decided to join the credit union . This is the time for you to Start learning to ask questions . Begin by asking to whom you are speaking? What is their function within the credit union ? Are they a front line teller? Are they an officer? Are you an insurance information specialist? Who is in charge of the credit union? May I speak to that person to get an understanding of what I need to do? Is the manager available to speak with me? I understand that you have loan rates based on the debt ratio or credit score and the length of the loan. what are they? What is a Payroll Deduction and how does it work? Is it the only way I can deposit money in the credit union ? Will the credit union accept my checks, Money orders or bank transfers ? Who do I need to speak to be able to make things things happen? Will someone contact me with answers?
Once you get an understanding of how things work in the credit union. You can start planning on how you’re going to make your finances grow and use the facilities of the credit union in order to do that for future planning.
It is my suggestion that you learn to be patient and observant and planning for your future . Finding someone within the credit union who will answer your questions. That would be the best thing for you to do . Someone who can answer most of your questions and advise you how to make decisions . If you are financially knowledgeable then I would suggest you check out how they will help you achieve your goals. If you do not have any specific goals in mind then you need to speak to someone who can help you outline a plan for becoming financially stable.
These are the things that you should be asking in regard to your account get a clear understanding of what your account number is. Who can be on your account and who cannot be on your account . How secure is my information within the credit union . Find out who you can depend upon to give you the best advice . Use that person his or her name to refer to when you have a question .
Saving is important in the credit union what good is it to have your money come in and not be working for you. For instance if you put $200 a pay period coming into the credit union and then you turn right around and take it right back out on the next pay. You are wasting your time and your money . If you can afford to put a certain amount of money in your account weekly/ biweekly or monthly you should try not to take it out until an emergency or a loan payment is made . Loan payments can be made automatically from your deposits . If this is the way you want to pay for your loans then decide how much you’re going to put into your account every pay period. Put enough in to cover the loan payment and also some savings
Once you know how much the monthly payment is or bi weekly payment is for your loan. Then you can have a certain amount of money deducted from your paycheck each pay and put into your shares.