Tired of High Interest Rates? Why Credit Unions Save You Money

When you're in the market for a loan or mortgage, deciding where to go can feel overwhelming. Whether you're buying a home, refinancing or taking out a personal loan, choosing the right financial partner makes all the difference. Credit unions, particularly St. Anne's Credit Union, offer distinct advantages over traditional banks, especially for residents of Fall River and New Bedford. Here are five reasons why opting for a credit union could be one of the smartest financial decisions you make.

1. Yes, Credit Unions Often Have Lower Interest Rates on Loans and Mortgages

One of the most compelling reasons to choose a credit union is the potential for lower interest rates. Because credit unions operate as not-for-profit organizations, they focus on returning value to their members rather than maximizing profits. This often translates to more competitive interest rates on loans and mortgages compared to traditional banks. Whether you're seeking a mortgage for your first home or a loan to consolidate debt, a lower rate can save you thousands over time. 

2. Personalized Service and Community Focus 

Credit unions prioritize personalized service, with a strong focus on serving their local communities. At St. Anne’s Credit Union, we take pride in helping our neighbors in Fall River, New Bedford and the surrounding areas achieve their financial goals. Our team takes the time to understand your unique needs and offers solutions tailored to your situation. You’re more than just a number—you’re a member of a community that genuinely cares about your financial well-being.

3. Flexible Loan Options

Flexibility is key when choosing a loan or mortgage. Credit unions tend to offer more customized loan options, allowing you to select terms and repayment plans that fit your lifestyle. You can see St. Anne’s range of rates and terms for both mortgages and consumer loans here. Whether you’re looking for a mortgage to purchase a home in the SouthCoast area or a loan to cover unexpected expenses, St. Anne’s can provide flexibility you might not find at larger financial institutions.

4. Fewer Fees

In addition to lower rates, credit unions typically charge fewer fees than big banks. From origination fees on mortgages to monthly maintenance charges on loans, St. Anne’s works to keep costs low for their members. This can make a significant difference in your overall borrowing experience, helping you keep more money in your pocket.

5. Commitment to Financial Education

St. Anne’s Credit Union is dedicated to empowering their members with the knowledge they need to make informed financial decisions. We offer free resources, seminars and coaching services to help you understand the ins and outs of mortgages, loans and overall financial health. When you partner with a credit union, you're not just getting a loan—you’re gaining access to a support system that can guide you every step of the way.

If you’re in Fall River, New Bedford or the surrounding areas, St. Anne’s Credit Union is here to help you make smarter financial decisions tailored to your needs. Contact us today to learn more about how we can support your financial journey.