There are a few ways credit unions differ from big banks, which might make them a more attractive option. The problem is, switching over seems like a huge pain. We’ve told you how to do it, but here’s the thing: most credit unions come with “switch kits” that make it dead simple to move your money.


The Differences Between Banks and Credit Unions

Credit unions may not be as popular as big banks, but they’re still a good place to put your money. …

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I’ve been thinking of switching over to a credit union myself, but I hate dealing with the hassle of redirecting my direct deposit and updating all my automatic payment info. I didn’t realize, however, that most credit unions create “switch kits” that guide you through the process. Here’s how Samantha Paxson of CO-OP Financial Services, a payments and financial technology company explained it to us:

“Switching is easy. Most credit unions make it simple to sign up via their websites with a simple three-step process—open your credit union account, close your old bank accounts and transfer your direct deposits and automatic payments. That’s it—your new credit union is your primary financial institution, and a much better one at that.”

The switch kit is basically a PDF you download that includes all of the info you need in one place: applications, direct deposit forms, account closure forms, and so on. It often includes a checklist to help you through the process, too. Some credit unions even use a service called ClickSWITCH, which will fill out and submit those forms for you.

If you’ve been thinking about switching to a credit union, you can use A Smarter Choice to search for one (here are our five reader favorites, though). Once you find one you like, check to see if they offer a switch kit. Chances are they do, which will make the transition super simple.



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