The myth of high fees

 

One of the most prevalent myths I’ve heard when talking to people is that credit unions charge high fees – or extra yearly fees, or special fees that the banks don’t charge – and this is one reason why people don’t consider switching.
 

To help debunk this myth even more, I created an infographic to give you an example of the fees charged by an Alberta credit union – First Calgary Financial – compared to one of the big banks – Canadian Imperial Bank of Commerce (CIBC). This comparison shows the difference between being a member of First Calgary Financial with a regular No Fees For MeTM Chequing Account with the personal banking upgrade compared to being a CIBC customer with a CIBC Smart™ Chequing Account.


 

To top it all off, when you are a credit union member that means you benefit from profit-sharing. Last year, that meant more than $79.8 million went back to members across the province – that means money back into your wallet. But don’t just take my word for it – visit your local credit union to learn more about how they can help you save money on fees AND get money back with profit-sharing.


 
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