Why You Should Break Up With Your Bank, Part 4

Throughout the next couple of months, we will be sharing a blog series highlighting the top eight reasons you should break up with your bank and consider joining a credit union.

Reason #4: Stellar Member Service

Customer service is a fundamental part of every business. But unlike big banks, credit unions don’t have to answer to stockholders. Credit unions are owned by members, so we answer to you. That’s why we call it member service. You may think we’re biased when we say credit unions provide stellar service compared to big banks, but it’s actually true since credit unions are structured to always operate in the best interest of its members.

According to NerdWallet¹, banks have traditionally had less of an emphasis on personal interactions where credit unions actually focus on local and personal connections. Serving members is the reason credit unions exist, which means outstanding service is always a top priority.

Incredible service doesn’t end at credit union branches, though. A lot of credit unions serve in their local areas as well, and often support the community in a wide variety of ways like Coastal does.

Learn About Coastal's Community Involvement

In addition, credit unions strive to offer its members fantastic benefits. For example, while big banks charged a total of $11.7 billion in overdraft fees in 2019, Coastal has eliminated half of its fees. Coastal understands members may occasionally make a small error when balancing their checking accounts, which shouldn't result in big penalties.

Instead of getting a $31 fee each time a member overdrafts², Coastal charges a fee of just one cent per overdraft, provided the member either corrects the overdraft before 11 p.m. that day or had a minor overdraft that does not take the member’s end-of-day account balance into the negative by more than $10.

Coastal even accommodates your schedule by offering extended teller hours. You can use Coastal’s teller services from 7 a.m. to 7 p.m., seven days a week at all branches – yes, even on Sundays!

Since credit unions are not-for-profit organizations, profits are shared through dividends, better rates and lower fees. Many credit unions distribute dividends through member giveback programs. In 2020 alone, Coastal gave $31.6 million back to its members through special dividends, better rates and lower fees.

Coastal and credit unions everywhere strive for legendary and stellar member service every day. Don’t just take our word for it. Read what a few members are saying about Coastal’s service:

The customer service is top notch and I love that when I call I talk to people. Thank you guys for all that you do, and for watching out for your customers! – Kasey W.

My favorite is the 7 a.m. to 7 p.m., 7 days a week. Who can make it to the bank on time when your work hours are banking hours? Get off at 5 p.m. and the banks close at 5 p.m. and on the weekends. You shouldn't need to go out of your way to get to what's yours. Thank you, Coastal! – Vang D.