How to go about choosing a credit union that fits all your needs

If you are seeking to secure a loan, you most probably have the option of dealing with a bank or a credit union. It’s not by default that scores of individuals are resorting to do business with a credit union as opposed to a big bank notorious for charging high end interest rates on loans. With everyone bemoaning the high interest rates on loans, there have been a need and the tendency for individuals to resort to credit unions which are by all means relatively cheaper. Getting reasonable interest rates are harder to come by and it’s no wonder that more and more people are choosing to go the credit union way.

The appeal of a nonprofit organization fully committed to the interests of its members is something most people in Mount Vernon and America by extension find appealing. Basically, the key difference between a bank and a credit union has to do with the state of ownership. Credit unions such as CES credit union are owned by customers of a given professional group or individuals with a common interest though this is not restrictive as individuals not belonging to a certain professional group can still apply for a loan from a credit union and get approved. The appeal of credit unions has to with affordable interest rates as compared to big banks. However, when choosing a credit union, you should exercise caution as there are some that masquerade as credit unions while charging the same rates as banks.

With that said, how do you go about choosing the right credit union such as CES credit union?

Convenience

When choosing a credit union ensure that the amenities it offers fits your needs. Basically, every credit union you come across will boast about utilizing modern technology. However, it is important that you choose one whose amenities specifically fits your needs or expectations. For instance, if you are very particular about bill pay, mobile banking as well as online banking. It’s important that you for a union that offers the aforementioned. See whether the location of the union appeals to you, whether ATM are easily accessible and whether there is a surcharge for ATM use.

Credit cards and loans

It goes without say that the most attractive aspect of credit unions has to do with the competitive interest rates of credit cards and loans. Add to this the fact that you have access to a number of borrowing alternatives or options and you get the bigger picture as to why it’s preferred to big banks hell bent on making huge profits. Different credit unions offer home loans, student loans, personal loans, specialty loans, vehicle loans and so on and so forth. It is therefore important that you choose a union that gives you a wide variety of loan instrument for your needs.

The truth of the matter is each credit union offer a number of services to its members depending on the initial purpose for which it was started. However, all of them expand to offer a number of services with the aim of appealing to its existing as well as prospective customers. Take this into consideration when thinking of borrowing from a credit union.

Should you pay for the services of an accountant?

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I run my own business, and every year I’m asked to file my taxes. I sort out my books myself, as I don’t see the point in paying for an accountant to do it. However, my aunt runs her own business, and she pays an accountant every year, and she’s happy to continue doing that.

You may wonder why I am so averse to hiring an accountant, so I’m going to explain why:

I do my books weekly

Every time I get paid, I add the figures to my spreadsheet. This practice helps me to stay up to date with how much money the business has. I also add expenditures every time I have them too. If I need to see how well the business is doing, I just take a look at the figures, and workout the profit from there.

Accountants aren’t cheap

We all know that accountants can potentially charge a lot of money for their work. This is the main reason why I won’t hire one. I can use that money elsewhere, and I would rather not pay about $1,000 each time.

I usually have time to do my taxes

This is because I make the time to do my taxes. As soon as I know they need doing, I do them at the next available opportunity. My aunt hires Broadridge IMS to help her with other aspects of her business when her accountant wants to go over the books with her. As you can see, this means there’s a lot of expense on her behalf, but she’s happy with that.

Getting someone else to do my books is too personal

I’ve been running my own business for nearly 4 years, and it’s become quite personal. It’s something that I enjoy doing, and doing my books is a part of my job. The thought of an accountant looking at my incomings and expenditures seems a little too personal. I’m sure a lot of business owners feel this way, and can identify with this.

It’s good practice to do it myself

The very first time I took a look at my books and decided to do it all myself, it did seem a little intimidating. I had very little business experience, but I was willing to give it a go. I wanted to prove to myself that I could do the work, and it turns out that I could. I think being able to do the work that an accountant would ordinarily do is good practice. Knowing what needs to be done and when means that if I were ever to hand the reins over to someone else, I know what the job entails.

It’s entirely up to you whether you pay for the services of an accountant. I guess it depends on how mathematical you are, and how willing you are to give it a try. If you would like to make sure that everything is kept in order, and it will give have peace of mind, then perhaps hiring an accountant is the way forward