People Helping People

The credit union industry was founded on the principal of “People Helping People.” Credit unions are financial institutions, but they’re designed to help everyday people gain control over their finances. While traditional banks keep large chunks of their earnings as profits for shareholders or trustees, credit unions redistribute profits back to their members in the form of lower interest rates on loans and higher interest rates on savings.

Since opening our doors in 1951, Community Financial Credit Union has been committed to enhancing the financial well-being of our members and our communities. You’re welcomed as an owner, because that’s who you are. We help put money back into our members’ pockets by refinancing existing loans at lower rates and providing competitive rates on deposits. We also save members money with options such as free checking, free mobile banking, and free access to thousands of ATMs across the country.

As a financial cooperative, our members borrow and save together. In 2017 we granted over $220 million in member loans, helping over 11,000 members take one step closer to realizing their dreams. With auto loan rates typically 1% less than local banks and credit cards averaging 5% lower, we are able to help our members save thousands of dollars refinancing higher rate loans. At Community Financial, our members are more than just a credit score. By looking at the whole picture, not just a credit score, we are able to help people borrow at a competitive rate.

In 2017 we partnered with the Center for Financial Services Innovation (CFSI) to conduct a Financial Health Assessment Survey of our members. We found that 55% were satisfied with their financial condition, 31% lived paycheck to paycheck, 35% ran out of money by the end of the month at least once last year, 44% struggled to keep up with payments, and 18% didn’t save at all. This information will help guide us in 2018 to better serve the financial needs of our members as we work toward providing financial tools, both online and in the branch, helping our members when they need it most.

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