My Account Desert Financial: Arizona’s Best Local Credit Union
If you are in Arizona and wondering if a credit union might be a better fit for your financial needs than a traditional bank, then check out Desert Financial. It may be the best fit for you as it offers appealing services and benefits to its members. Desert Financial aims to provide exceptional experiences through financial solutions and improve the financial well-being of its members.
So, if you live in and are thinking about joining Desert Financial, here are its services, offerings, and benefits to help you make your decision. Let’s start by taking a quick overview of Desert Financial.
What is Desert Financial?
Desert Financial is Arizona’s largest locally-owned credit union. It was founded in 1939 when 15 Arizona teachers invested their money together to start a credit union. Desert Financial offers financial products and services to its members, such as checking and savings accounts, loans, and digital banking. As a not-for-profit organization, it works to benefit the financial well-being of its members. It also focuses on community involvement and giving back through a Member Giveback program.
This credit union has a team of over 400k members and assets of around $8.2 billion. It operates more than 50 branch locations and offers its members 24/7 account access with digital banking tools.
What Does Desert Financial Offer
Desert Financial offers a variety of services to its members, from digital banking to community initiatives and more. Here are some of its great offerings-
Financial Products and Services
It includes various financial and banking services and products to help its members grow. Its members can use its services like checking accounts, savings accounts, savings certificates, and IRAs. It also provides auto and mortgage loans, credit and debit cards, and investment services.
Digital Services
Desert Financial provides top-rated digital banking and mobile apps. Members can use them to access their accounts, check deposits, and transfer funds.
Membership Benefits
Members can enjoy discounts, cash rewards through programs like Relationship Rewards, and a Member Giveback Bonus. All this makes Desert Financial the top choice among users who are seeking a community-driven financial service platform.
Community Focus
Desert Financial offers educational workshops and encourages its members to engage in community initiatives, such as donating classroom supplies and supporting local charities through its foundation.
Regulation and Insurance
As a federally insured credit union, its deposits are protected by the National Credit Union Administration. Also, the Arizona Department of Financial Institutions regulates these deposits.
How Credit Unions Differ from Banks: Key Differences
A key difference between a credit union and a bank lies in their ownership and mission. Banks are normally for-profit corporations owned by shareholders, while credit unions are member-owned and non-profit organizations. This structure usually allows credit unions to offer better interest rates on loans and savings, and lower fees than traditional banking services. Desert Financial is a not-for-profit cooperative, meaning it is owned by its members.
Besides this, banks focus on maximizing returns for their shareholders; on the other hand, credit unions try to provide financial support to their members at the lowest interest possible. Compared to traditional banks, these credit unions are member-owned and run on a not-for-profit basis. It reinvests earnings back into the cooperative for the benefit of its members.
What Benefits Does Desert Financial Offer to Its Members?
Desert Financial provides many appealing benefits for its members, such as great loan rates, cash rewards, free services, product discounts, and even special offers. Here are its highlighted member benefits-
Relationship Rewards
You get enrolled in their free Relationship Rewards program automatically when you join them. You get credit for using its services, like using a debit card, growing your savings, and getting a loan. These points are calculated monthly; the more you earn points, the higher your level gets. Higher reward levels include consumer loan rate discounts and a better Member Giveback Bonus.
Member Giveback Bonus
Desert Financial Credit Union gives its members an annual cash reward as a Member Giveback Bonus. It is also a part of Relationship Rewards that you are automatically enrolled in when you join it. It lets you earn points for various banking activities, and every point can help you level up for better rewards. The annual Member Giveback Bonus reward is delivered to eligible members by February 1.
Refer-A-Friend Program
As you can guess, this program lets members earn an extra $100 each time they successfully refer DF to their friends, family members, or others. It is the easiest way to earn extra money at DF, growing both its members and its community through its referral program.
How Can You Become a Desert Financial Member?
The reason why it has such a large community and team of members is its enrollment methods. It lets people join and become members in four different ways. Here are the ways to become a Desert Financial Member.
- You can become a family member of a current Desert Financial member by directly joining them.
- If you live, work, study, volunteer, or worship in Desert Financial’s member coverage area, you will automatically become a DF Member.
- You will also consider a DF Member if you are an employee of this establishment.
- If you own a business in the state of Arizona, you can also become a member.
Conclusion:
Desert Financial is more than just a credit union; it is an area where members get better financial services than traditional banking services. That’s why I have always been a huge fan of credit unions, as they prioritize their members and put them before profits. It has become a top choice in Arizona because of its lower fees, better rates, and a firm commitment to helping members flourish.
