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If you need a loan for your business, you will certainly find that large banks tend of offer poorer deals than a smaller, more competitive bank, but few things match the benefits of having access to a business and industrial credit union. In addition to the lack of overhead that small bank branches have to offer, credit unions are equally capable of making similar cuts in their interest rates, but can afford to provide even lower rates due to the fact that they do not have to make a profit.

Business and industrial credit unions offer excellent interest rates and are almost always the first place that homebuyers go to to take out their first home mortgage. Membership in a credit union is often one of the best perks to being involved in the employment of the business or industry in question too; once your membership is made in the credit union, it survives your employment in the union’s industry.

You will also find that credit unions are much safer places to keep your money. Credit unions are extremely stable, and have a long history of solvency; though bailouts and regulations have been known to permeate the history of banking, credit unions have remained solvent throughout America’s history. They are also insured by the Federal government for up to $250,000, so you can rest assured that your money is safer there than it would be in a large bank.

So try and get involved in your credit union and consider making them your primary financial relationship. These programs are becoming increasingly popular and you should be among the many that enjoy the benefits of a community-owned, non-profit cooperative organization.

This Business article was written by Mark Karavan on 12/31/2009