Credit Card Relief

In a previous post, we talked about using secured credit cards to rebuild a bad credit history. Secured cards are a good option for anyone looking to establish a good payment schedule and showing lenders you’re serious about making payments on time.

Secured credit cards are a good alternative for anyone who has a credit score so low, they can’t open up a checking account or get a loan from a traditional bank. But there is another alternative. Have you ever thought about joining a credit union?

Just about anyone can join a credit union. There are plenty of ways to do it. There may be a credit union serving people in your town or neighborhood. You may be eligible through your job, a family member, community group, or association.

Credit unions help people pool their financial resources, working as a team to create solutions to meet their financial needs. Credit unions are non-profit, and exist to provide members with a place to save money. That’s why they typically have lower fees associated with all of their products and services. Because they are not-for-profit institutions, credit unions offer better rates on loans and credit cards and higher percentage rates on checking and savings accounts.

Compared to traditional banks, credit unions are also more willing to work with people who have checkered credit histories. Many offer free credit counseling or have products tailored for people with poor credit.

Here are a few tips to keep in mind when looking for a credit union you can join:

-- Start at work. If you have a job ask your boss or HR manager if your company sponsors a credit union, or if you’re part of a select employee group (SEG) that has access to a credit union.

-- Ask the neighbors. Some credit unions only accept members from certain areas. There might be one close by that serves your neighborhood.

-- Check with family. If your employer doesn't sponsor a credit union, maybe your spouse or another family works for a company that does. Most credit unions allow family members to join.

-- Join civic and social groups. Many civic and associations offer credit union membership to their members. These include Homeowners’ Associations, Scouting organizations, and more.

-- Do your research. Check the yellow pages for a list of credit unions. Call a few in your area and ask about membership eligibility.

-- Call the Credit Union National Association at (800) 358-5710 to find the name and number of a person at the credit union league in your state. They can help you find a credit union to join.

Are you struggling to rebuild credit or get a loan? CCRNow can help. We’re a true attorney driven program that can help you get out of debt safely, legally and with peace of mind. We don’t collect any fees until your debt is settled. Click here to learn more about eliminating debt without bankruptcy, or call 1.866.345.3077 to get advice from an enrollment specialist right now.

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