When you are living in Trinidad you might want to apply for a mortgage. Currently, there are eight banks to choose from when considering applying for a mortgage, while there are 130 credit unions in Trinidad and Tobago. In Trinidad mortgage applications might be best brought to a credit union before a bank, out of convenience. In Trinidad loan applications are also easier to deal with at a credit union because of the number of them available when compared to the number of banks available.

Because the Trinidad banking sector is primarily focused on keeping its shareholders happy, the rates tend to be more expensive for the banking customer and better for the shareholders. Credit unions in Trinidad and Tobago are more concerned with keeping their customers happy. Because credit unions in Trinidad and Tobago are not for profit organizations, money that can be called profit can then be paid back to members as dividends. By offering deposit savings accounts and loans to its members the Eastern Credit Union is able to stay in good graces with its customers.

Because credit unions in Trinidad and Tobago are competing with the banking sector in Trinidad their services must match up with average bank services. This includes, Trinidad savings and investments, Trinidad loans and Trinidad mortgage solutions.

When dealing with credit unions in Trinidad and Tobago it is important to remember that there are credit card benefits, too. Usually an average APR rate for a credit card is thought to be reasonable but not when it is compared to a credit unions APR rate.

Normally accessibility would be questioned when it comes to using a credit union in Trinidad and Tobago. Because of the huge number of credit unions, accessing an ATM is definitely more convenient than using one of the eight banks.