• 1st United Credit Union Provides Over $11 Million in Financial Benefits to Members

  • The Credit Union National Association (CUNA) estimated in a recent report that 1st United Credit Union provided $11,326,062 in direct financial benefits to its members during the twelve months ending March 2019. This equates to an average of $186 per member or $391 per member household.

    Additional data provided by Datatrac, an independent research firm, cited an example of a home equity loan providing an average savings of $4,404 in interest expense over a 15-year term, compared to what a consumer would pay at a banking institution in the state.

    “Credit unions are not-for-profit financial institutions and our members are our owners,” commented Steve Stone, Chief Executive Officer at 1st United Credit Union. “Because we reinvest our earnings back into the Credit Union instead of paying shareholders, our members can achieve this level of financial benefit.”

    The report also stated that 1st United offers lower loan rates than state banking institutions on fixed-rate first mortgages, adjustable-rate first mortgages, home equity loans, personal unsecured loans, credit cards, new car loans, and used car loans. They also pay members higher dividends than banking institutions on certificate accounts and IRAs.

    To learn more about 1st United Credit Union and read the full report, visit 1stunitedcu.org.

    About 1st United Credit Union
    It doesn’t get simpler, faster and friendlier than 1st United Credit Union. As one of the first credit unions in California, 1st United Credit Union was founded in 1932 and has been thriving in the San Francisco East Bay Area ever since. Membership is available to anyone who lives, works, or attends school in Alameda, Contra Costa, San Joaquin, Solano, Stanislaus, or Kings Counties in California. We believe in local, neighborly banking and hope you will too. For more information, visit 1stunitedcu.org.