A Retrospective on Sharonview and Why Credit Unions Are Important

Banks aren’t the only places to keep money, unlock financial opportunities, and save for the future. In fact, many people find it easier, smarter, and better to bank with alternative institutions like credit unions.

Though they’re often less flashy than big banks, credit unions bring a lot to the table (and to their members’ wallets). From financial benefits to community impact, credit unions are important for many key reasons.

Today, we’ll explore those reasons – and examine how we’ve exemplified the community-first values of credit unions for over 70 years.

A brief history of credit unions

Banks might have been invented first but credit unions were born out of necessity.

In the mid-1800s, working-class people in Europe had limited access to fair credit. That changed when community cooperatives – early versions of credit unions – began pooling money so members could borrow affordably. This model came to the U.S. in the early 1900s with the founding of St. Mary’s Cooperative Credit Association in New Hampshire.

The credit union difference? Ownership. When you join a credit union, you become a member-owner, not a customer. Profits go back to you in the form of better rates, fewer fees, and reinvestments in the community.

Over time, this member-first philosophy helped credit unions become financial partners across the country, especially in places where big banks didn’t offer tailored, local financial services.

Why join a credit union?

Today, there are numerous important reasons why you should join a credit union instead of stashing your money with a big bank. Here’s a detailed breakdown.

Lower fees and superior savings

For starters, credit unions tend to have lower fees and better rates than banks – and it’s no accident. Their not-for-profit structure means they aren’t trying to deliver profits to stockholders. Instead, earnings go back to members. That could look like no maintenance fees, lower minimums, better savings rates, or reduced charges on loans and overdrafts.

At Sharonview, for example, we offer highly competitive rates on savings accounts and share certificates while helping members avoid hidden fees.

Access to quality loans

From auto loans to mortgages, credit unions offer some of the most competitive lending rates available. But more importantly, credit unions also look at factors other than just credit scores to understand an applicant’s whole financial picture.

If you’ve ever felt like a “maybe” at a traditional bank, a credit union might offer you a “yes.” Sharonview has a long history of helping members access credit through flexible terms, responsive service, and loan solutions that suit real needs.

Local experts for local needs

Credit unions are deeply rooted in the communities they serve. Our team is a perfect example. We understand your personal finances and your context. We know the neighborhoods, job markets, and economic pressures our members face because we live and work there too.

That local insight makes a real difference when you're applying for a loan, asking questions about saving, or looking for advice tailored to your situation.

Community focus

Community is a core value at most credit unions, including Sharonview. That’s why we’re known for giving back, whether it’s through food banks, educational initiatives, or local partnerships.

We support organizations like Second Harvest Food Bank, contribute to housing efforts, and regularly host volunteering events across the Carolinas. It’s just another example of how good credit unions invest in where their members live, work, and grow.

Financial education and resources

One of the lesser-known benefits of joining a credit union is free access to financial education.

From budgeting workshops to credit counseling, many credit unions equip their members with the knowledge to make confident, informed decisions. At Sharonview, that support goes beyond our website – it’s built into our culture, and it means real people are ready to help you succeed.

How Sharonview has helped communities for over 70 years

Since our founding in 1955, Sharonview has grown from a small credit union with $11,000 in assets into one of the most respected credit unions in the Southeast. And today, we serve more than 80,000 members.

Sharonview’s success has always been about more than numbers. Our team puts relationships at the heart of everything we do. Whether it’s helping someone get their first auto loan, supporting a small business, or donating time and resources to local nonprofits, Sharonview’s commitment to people-first banking is evident every single day.

Over the years, we’ve been proud to accomplish major projects and contribute to worthwhile causes, like:

• Partnering with the Second Harvest Foodbank of the Metrolina, Habitat for Humanity, and the Lancaster Chamber of Commerce.
• Providing financial literacy resources across North and South Carolina.
• Organizing volunteer days to pack care boxes and distribute supplies to those in need.
• Supporting regional food insecurity initiatives through donations and food drives.

It’s been a privilege to help the communities we work and live in over the last seven decades – and we’re excited to keep doing more in the years to come.

Join a credit union today

If you’re tired of being treated like an account number at your bank, it might be time to experience something different.

Credit unions, by design, put people first. They're not motivated by quarterly profits – they're focused on your long-term financial well-being. And at Sharonview, we do our best to live up to that standard by providing empowering ways to manage your money. 

Ready to join a family that unlocks opportunities, helps you achieve your goals, and enables you to make the most of your finances? Reach out today!