File labeled myths.


Debunking Myths About Credit Unions

Millions of Americans are dissatisfied with their current banking relationship and are searching for a better option for their checking, savings and lending needs. Many are finding that credit unions are the sweet spot of the financial world, offering a local banking alternative. Unfortunately, there are a handful of misconceptions about credit unions that prevent more consumers from taking the final steps to financial freedom.

Here are some misconceptions about credit unions reconsidered:

Myth #1: I’m not eligible to join a Credit Union

While credit unions do require that members meet certain requirements to satisfy a common bond, many of these are broad. There is a credit union option for everyone, no matter where you live.

Rivermark membership is available to anyone who lives, works or has immediate family/domestic partners residing in the 15 Oregon and Washington counties we serve. Oregon: Multnomah, Washington, Clackamas, Polk, Gilliam, Yamhill, Sherman, Wheeler, Marion, Hood River and Wasco. Washington: Clark, Cowlitz, Klickitat, Skamania.

Joining (opening an account) is easy. You can apply in minutes from your computer or phone!

Myth #2: Credit unions aren’t sophisticated

Most credit unions offer many of the same online and mobile services that banks have like mobile banking apps, online bill pay, mobile deposit, mobile wallets, etc.

At Rivermark, we continually invest in improving our delivery channels so our members can bank when and where and how they want. Our highly rated mobile banking app puts the branch in your hand where you can pay bills from anywhere, deposit checks with your phone’s camera, transfer funds with a click and send money to your friends with a few swipes.

For those who want personal assistance, our modern branches offer state-of-the-art video teller kiosks that allow our branches to be open from 8am-8pm on weekdays and 10am-6pm on Saturdays.

Myth #3: Credit Unions don’t offer rewards programs

Each credit union is different, but many offer some type of rewards program. Banking at Rivermark is rewarding with our Free Checking Plus and our Cash Back Visa Card.

Free Checking Plus pays 3.00%APY* on balances up to $15,000 and refunds up to $12 in ATM fees per month when you meet 3 easy monthly requirements**. Our Cash Back Visa Credit Card earns unlimited 1.5% cash back on all purchases. Banking at Rivermark really is rewarding!

Myth #4: I can’t travel with my credit union

Some people assume they won’t have the same access to their money when they travel if they bank at a local credit union. Rivermark is part of the CO-OP ATM Network, which is a network of over 30,000 surcharge-free ATMs at credit unions across the country. That’s a bigger network of ATMs than Wells Fargo or Bank of America has. Rivermark also offers the added bonus of ATM fee refunds of up to $12 a month (with Free Checking Plus*) if you can’t find a CO-OP ATM. Plus, the Rivermark mobile app allows you to do nearly everything you could do in a branch from the palm of your hand.

Myth #5: Credit Unions aren’t insured like banks

While banks are federally insured by the FDIC, credit unions are federally insured by the NCUA (National Credit Union Association). Just like at banks, your deposits are insured by the federal government up to $250,000. Your money is safe at a credit union!

Why Rivermark? We’re everything the big banks wish they could be:

Member Owned, People Before Profits

Extended Hours: 8am-8pm M-F, 10am-6pm Saturdays

Strong Local Roots and Community Ties

Exceptional Refer a Friend Rewards Program

*APY = Annual Percentage Yield. Rates are subject to change after account opening. Minimum opening deposit is $25.00. To earn the Free Checking Plus rate of 3.00% APY on balances up to and including $15,000, and 0.05% APY on balances over $15,000, you must meet the following monthly requirements: Twelve (12) posted and cleared debit card transactions; Log in to Online Banking; and receive e-Statements. In addition to earning the higher rate, you will receive automatic refunds on ATM fees, up to $12 maximum per month. If account requirements are not met, the rate will be 0.05% APY and ATM fees will not be refunded. Fees may reduce earnings. 

** Requirement cycles begin one day before the last day of each month. All requirements must be met with transactions posted and cleared by the close of business on the last day of the requirement cycle. ATM transactions do not count toward the 12 debit card transactions. Interest and ATM refunds will be paid on the last day of the month in which it is earned. Click here for cycle requirements schedule.

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