Myth #1: Limited membership - credit unions only serve specific groups of people, like employees of a particular company.

Reality: Many credit unions have expanded their membership requirements, allowing anyone who lives, works, or studies in a specific community to join.

Myth #2: Outdated technology - credit unions are not as tech savvy as banks.

Reality: Many credit unions have invested heavily in modern banking technology, offering user-friendly online platforms and mobile apps with features like mobile check deposit and bill pay.

Myth #3: Limited Services - banks offer more services than credit unions

Reality: Surprise, surprise - credit unions offer everything you need, such as checking and savings accounts, loans, credit cards, online banking, and wealth management services.

Myth #4: Less security - your money with banks is more secure than credit unions because of FDIC insurance.

Reality: Deposits at most credit unions are federally insured by the National Credit Union Administration (NCUA) up to $250,000, just like banks are insured by the FDIC.

Myth #5: Limited ATM access (pop quiz, what does ATM stand for?)

Reality: Due to cooperative banking by a majority of credit unions in the country, there are plenty of no-fee Automated Teller Machines in nearly all 50 states. 

Myth #6: Lower rates - credit unions don't offer competitive rates as banks on loans and savings.

Reality: Credit unions are known for their lower fees and often offer lower interest rates on loans and higher yields on savings accounts compared to banks.