Why Choose a Credit Union?
You may have noticed credit unions being mentioned in the news as an alternative to big banks. But why? Due to all the turmoil big banks got themselves into with risky mortgages, people are moving their money to community credit unions.
Why Move Your Money?
Credit unions are safe places to park your dollars. Naveo is federally insured by the National Credit Union Administration (NCUA) up to $250,000. In addition, we are also covered by the Massachusetts Share Insurance Corporation (MSIC), an additional insurance, which insures funds above $250,000.
A Safe Place for Your Money
In addition to being a safe place that you can trust, credit unions are not-for-profit organizations meaning there are no shareholders and no dividend requirements. Instead, credit unions give back to their membership through low cost services, higher rates of interest on your savings and lower loan rates.
Better Quality of Service
Still not convinced? Credit unions treat their membership differently. As a member, you are owner of the Credit Union, not just another account number. With a motto of “people helping people,” the focus of a credit union is on its members. Become a member today and experience the credit union difference.
Naveo is a local credit union with a rich history. Naveo, formerly CPCU, was incorporated in 1928 by people in the Portuguese-American community who needed a place to bank with confidence. Today, Naveo remains true to its roots and continues to guide the financial lives of the people we serve – in the neighborhoods where we live.
Committed to the Community
As a local institution, we are committed to the communities in which we serve. We strive to connect with our membership beyond financial services while strengthening our involvement in our neighborhood.