The Credit Union Difference
The difference between credit unions and traditional banks is that credit unions are non-profits owned by their customers, more commonly referred to as members. For this reason, credit unions work for their membership and are able to channel excess funds back to them in the form of lower loan rates and fees and higher savings yields.
Credit unions are generally operated on a smaller scale and tend to be community oriented. This local presence allows them to foster more personal relationships with their members resulting in increased customer satisfaction. TransWest prides itself on building personal relationships with its members through:
- active and constant communication including email, newsletters, statement messaging, and mailed correspondence
- easy to use and understand functions of our website to access your account information or receive important news and updates
- personable, knowledgeable, and honest customer service
TransWest stands out from other credit unions by offering innovative and effective products and services that directly benefit its membership, such as:
- TransWest pays the commission on auto loans to its members, not the dealer.
- Staying up-to-date with financial technology is important to TransWest, who was one of the first credit unions in the area to offer Online Banking, Bill Pay, and a Telephone Teller service.
- TransWest offers traditional services such as safe deposit box rentals, money orders, and counter checks.
- In addition to VISA credit cards, TransWest enrolls its members in the VISA ScoreCard Rewards Program which helps members stretch the money they spend on credit card purchases a little further.
- When making decisions on mortgage and consumer loans, TransWest believe that it's important to look at the member's entire financial picture rather than just their credit score before making such an important decision. In addition, Loan Officers at TransWest are trained as Trusted Advisors with the responsibility to help members make sound and economical financial decisions.
- For over 75 years, TransWest has been a part of the community in which they do business helping groups such as The Salvation Army, The Children's Miracle Network, TreeUtah, and various sports teams and educational resources.
- TransWest has made a commitment to help today's youth reach their full financial potential by offering Kid's Club accounts, the Freedom Account for teens, and working with Banzai to help promote financial literacy in junior highs and high schools within the community.