Buzz
Credit unions offer several advantages over traditional banks, making them a more appealing choice. The real hurdle, though, is the perceived difficulty of making the change. Fortunately, most credit unions provide “switch kits” that simplify the entire process of moving your funds.
I’ve been considering switching to a credit union myself, but the thought of updating my direct deposit and changing all my automatic payment information felt like a hassle. What I didn’t know was that most credit unions provide a “switch kit” to walk you through the steps. Samantha Paxson from CO-OP Financial Services, a company specializing in financial technology, explained it to us like this:
Switching is straightforward. Most credit unions offer a simple three-step process to sign up online—open an account, close your old bank account, and transfer direct deposits and payments. That’s all it takes. From there, your new credit union becomes your main financial hub, and a much better one at that.
The switch kit is essentially a downloadable PDF that compiles all the necessary forms—applications, direct deposit requests, account closure forms, and more. It often includes a checklist to guide you through. Some credit unions even partner with ClickSWITCH, a service that automatically fills out and submits your forms for you.
If you’ve been considering a switch to a credit union, you can use A Smarter Choice to help you find one (check out our top five picks for recommendations). Once you choose a credit union, see if they provide a switch kit. Most likely, they do, and that will make the process incredibly easy.
