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Introduction
Trades and Labor Credit Union is a financial institution that operates like a bank but is owned and controlled by its members who are mostly union members. The credit union offers financial services such as savings accounts, loans, credit cards, and other banking products. In this article, we will discuss everything you need to know about Trades and Labor Credit Union.
History
Trades and Labor Credit Union was established in 1935 in Washington, D.C. by a group of union members who wanted to form a financial cooperative that would serve their financial needs. Since then, the credit union has grown to become one of the largest credit unions in the United States, serving over 1 million members across the country.
Membership
To become a member of Trades and Labor Credit Union, you must be a union member, a family member of a union member, or live in a household with a union member. Once you become a member, you can enjoy the benefits of the credit union, such as lower interest rates on loans, higher interest rates on savings accounts, and access to financial education resources.
Products and Services
Trades and Labor Credit Union offers a variety of financial products and services to its members. Some of these include:
Savings Accounts
The credit union offers different types of savings accounts, including regular savings, money market accounts, and youth savings accounts. Members can earn higher interest rates on their savings compared to traditional banks.
Loans
Trades and Labor Credit Union offers various loan products, including personal loans, auto loans, home equity loans, and mortgages. Members can enjoy lower interest rates on loans compared to other financial institutions.
Credit Cards
The credit union offers credit cards with low interest rates, no annual fees, and rewards programs. Members can choose from different types of credit cards, depending on their needs.
Other Services
Trades and Labor Credit Union also offers other financial services, such as online banking, mobile banking, bill pay, and financial education resources.
Benefits of Joining
There are several benefits to joining Trades and Labor Credit Union, including:
Lower Interest Rates
Members can enjoy lower interest rates on loans and credit cards compared to traditional banks.
Higher Interest Rates
Members can earn higher interest rates on their savings accounts compared to traditional banks.
Community Involvement
Trades and Labor Credit Union is committed to supporting the communities it serves. The credit union sponsors various community events and programs to give back to its members.
Financial Education
The credit union offers financial education resources to help its members make informed financial decisions.
How to Join
To join Trades and Labor Credit Union, you can visit one of their branches or apply online. You will need to provide proof of eligibility and identification.
Conclusion
Trades and Labor Credit Union is a financial institution that offers a variety of financial products and services to its members. By joining the credit union, members can enjoy lower interest rates on loans and credit cards, higher interest rates on savings accounts, and access to financial education resources. If you are eligible to join, consider becoming a member of Trades and Labor Credit Union today.
