If you are interested in opening a checking account, you may be wondering whether you should go with a credit union or a bank. In fact, you may be wondering what, exactly, is the difference between the two. And which would be most beneficial to you and your financial situation. As a local credit union in Cecil County, we’d love to answer all of your questions as well as discuss the benefits of going local.

Should You Choose a Local Credit Union in Cecil County?

Here are our answers to your most common questions about credit unions.

I live in Cecil County, but I go to school in California. Does a local credit union really make sense for me?

We hear this question a lot, and the assumption is that a local bank is really only beneficial if used locally. That is just not the case. In fact, it’s much more inconvenient to go with a large bank than a small credit union if you plan to live and travel elsewhere. Allow us to explain:

There are two reasons why a bank might be inconvenient: if there is not a branch nearby, and if there is not an ATM nearby. That is because if there is not a branch nearby then you won’t be able to deposit your checks, and if there is not an ATM nearby you won’t be able to get cash. Sounds simple enough.

Well, DEXSTA allows you to deposit checks through our mobile app. Simply take a picture of your check (front and back) no matter where you are, and we’ll deliver the funds straight to your checking or savings account. And what about ATM’s? Unlike large banks, DEXSTA Federal Credit Union allows you to withdraw money from your account from more than 55,000 ATMs in more than 20 states—without having to pay a fee.

Are there any benefits to choosing a local credit union over a large bank?

So what exactly is the difference, you may be wondering? Well really what it comes down to is motivation. Large financial institutions are public companies. That means they report to a board of directors and their primary motivation is to increase the amount of money those shareholders receive each quarter. We think that doesn’t really set anyone up for success apart from the shareholders.

DEXSTA Federal Credit Union, on the other hand, is a not-for-profit organization. Each one of our customers is a member of our bank, and our primary motivation is to increase the money in their pockets. As you can imagine this makes a big difference when it comes to the kind of service you will receive from your checking and savings accounts, auto loans, student loans, mortgages, and investments.

DEXSTA is a local credit union in Cecil County and surrounding areas. Apply today!