Credit Union Myths BUSTED! | Town & Country Credit Union

Website mobile logo

Town & Country Credit Union

Town & Country Credit Union

COVID-19 Precautions

We continue to take precautions to keep our staff and members healthy while providing the services you need. The majority of our lobbies are open and all staff are wearing masks when social distancing cannot be achieved. You can check your local location's hours here. We ask that you join us in taking precautions to help keep all of us healthy:

  1. Masks are required within our branches.
  2. Do not come in if you’re feeling sick. Give us a call or access your account online to conduct your business.
  3. If you need to meet with an account opener or loan officer, call us at 1-800-872-6358 to make an appointment. When you get to the branch, wait in your car until your scheduled appointment time.

We also offer online and phone options for a no-contact method of conducting your business. You can open an account or apply for a loan online, access your accounts through TCCU Online and our mobile app, or give us a call to make a transfer, loan payment or more, if you prefer.

  • System Upgrade

    We're Upgrading
    February 27-March 1

    Find out what you need to know.


  • 82nd Annual Meeting Red, gray and blue background

    Join us Tuesday,
    March 16 at Noon


  • House Icon in Circle, map background

    Make Home Happen This Year.

    Get Pre-Qualified Today!


  • Nel Rasmussen

    I Saved a Member
    $73.77 a Month!


  • Skip Button

    Skip Your Next
     Loan Payment.*


Credit Union Myths BUSTED!

In honor of International Credit Union Day and Co-Op Month this October, we're busting some common myths about credit unions. We hope you'll help us share these facts and encourage your friends and family to join your local credit union! 

Myth #1: Credit Unions are only for certain groups of people. 

While you must meet membership criteria to join a credit union, for many credit unions the qualifications are pretty broad. For example, to join Town & Country Credit Union, the only qualification you need to meet is living within our membership area (75-mile radius of Minot and 50-mile radius of Fargo or Kenmare) or you can be a relative of a current member. Plus, once you're a member, you're always a member so you don't have to leave if you end up moving. 

Myth #2: Credit Unions don't offer as many products and services as many banks. 

Just like banks, credit unions come in all shapes and sizes, and some may focus on specific areas - like only consumer, agriculture or commercial products. However, there are many full-service credit unions where you can find everyting under one roof like you might expect from a larger bank. Here at Town & Country Credit Union, we offer free checking accounts and consumer lending, as well as retirement, health savings accounts, mortgages, and agriculture and commercial products all under our umbrella. We even have a sister insurance company, Town & Country Insurance Agency

Myth #3: Credit Unions don't offer the tech tools like banks do. 

That's just not true! Many credit unions offer the same or better access to your accounts online or on your phone with similar functionality like transfers, payments, alerts and more. In addition to TCCU Online and our mobile app, Town & Country Credit Union also offers online applications and leverages secure technology to allow members to open accounts and close on loans without ever coming into the branch if they wish. 

Myth #4: Credit Unions aren't big enough to offer financial protection. 

Credit Unions are regulated just like banks are, but by a different entity - the National Credit Union Administration. The National Credit Union Administration also insures our members' funds. Individual accounts are insured up to $250,000. If you're interested in depositing larger amounts or have questions on how NCUA insurance works, please give us a call at 800-872-6358 and we'd be happy to share additional information. 

Myth #5: Credit Unions can't offer as good of rates as bigger banks. 

Our mission as credit unions is to help our members. That means we believe in giving back to you with lower loan rates and higher deposit rates. Many credit unions like ours work hard to have some of the best rates in the market while maintaining a solid financial footing for the credit union for years to come. If you're interested, you can check out our loan and deposit rates here

Moral of the story? If you're wondering if your credit union offers what you're looking for, just ask! Many do. If you have questions about Town & Country Credit Union products, you can check out more info here on our website, give us a call or chat with an employee next time your'e in. We're happy to help.