Financial Fundamentals Blog

7 17 Credit Union Offers Plenty of Ways to Save

Why a Credit Union?
 Credit unions are often underused tools that let members diversify their finances. When it comes to products and services, credit unions and banks are on equal ground. But that’s where the similarities end. Credit unions, in case you’re unfamiliar, are not-for-profit financial cooperatives that exist to serve their members. Profits are returned to members as higher dividends on savings, lower rates on loans and lower or no fees, compared to traditional banks.

Meeting credit union membership requirements means you have numerous advantages over traditional banks, including:

  • Higher interest rates on deposits
  • Lower loan and credit card rates
  • Lower fees
  • Member focused banking
  • Better service

Why 7 17 Credit Union?
7 17 Credit Union was started in 1957 by 15 employees at the Packard Electric Division of General Motors with $75 in a cigar box. Over the last 60 plus years, 7 17 has grown to provide banking services to more than 86,000 members in the greater Youngstown, Warren, Kent, Ravenna and Canton areas.

In more recent years, 7 17’s technology has advanced and new delivery channels have been developed. This spring, we introduced Personal Teller Machines (PTMs) at our new Canfield and Larchmont branches. PTMs provide advanced drive-thru technology that allows members to talk directly to a 7 17 Personal Teller via two-way video. Similar in appearance to an ATM, PTMs allow members to conduct various transactions from the convenience of their vehicle.

Our online and mobile banking services allow you to access your account when and where it’s convenient for you. Plus, we offer banking convenience with 13 branches and 24 ATMs.
Our services were designed with you in mind, and allow you to do more with your money. For a complete list of 7 17 Credit Union’s services, visit

How 7 17 Can Save you Money
At 7 17, we're your neighbors, guided by the credit union philosophy of "people helping people," and we're committed to you and our communities. We understand that you work hard for you money, and we want to help you make the most of it. That’s why we provide members with a variety of discount and reward programs that focus on saving you money! Enjoy the benefits of 7 17 membership and start saving today with these great member-only discounts:

  • Simply Rewarding Member Rewards Program: Our Simply Rewarding program, which is based on combined household deposit and loan balances, rewards participation by saving members money on loans, increasing rates on certificates and reducing overdraft transfer fees. This is a no-cost program and all members are eligible to participate. Reward levels start at $10,000 in total household combined loan and deposit balances.
  • Benefits Plus Merchant Discounts and Value Added Advantages: When you are a 7 17 Credit Union Benefits Plus® member, you have access to a number of advantages and discounts. The Benefits Plus® program offers the complimentary Identity Theft & Security Center Program featuring Restoration Rescue®, discounts on travel and vacations, pharmacy discounts, eyewear and hearing discounts, discounted roadside service and more. Plus, you can save when you shop at many local businesses.
  • Visa ScoreCard® Rewards: For every purchase you make with your Visa® Platinum Rewards Credit Card, earn rewards points with the ScoreCard Rewards program. ScoreCard points are redeemable toward 1% cash back, gift cards, travel discounts and the best in brand name merchandise from manufacturers like Sony®, Bose®, Panasonic® and more. 
  • Visa Debit Card Rewards: 7 17 Credit Union’s free Debit Card Rewards program rewards members for their everyday purchases. Every time you use your Visa® Debit card and say or push the CREDIT option or SIGN for your purchase you receive one point for every $2 you spend. To accumulate points even faster, you can combine your Visa Debit Card Points with your Visa Platinum Rewards Credit Card ScoreCard Points.
  • Purchase Rewards Program: This is a free program available to NetWorth24 Online Banking members and those with the mobile banking app. Members can receive merchant discounts and cash back when they use their 7 17 Debit Card. 
  • 7 17 Credit Union members can receive discounts for online shopping, insurance, flowers, wireless services and more at There's even a Love My Credit Union Rewards mobile app to easily find special discounts, verify credit union membership and more!
  • KOFE Financial Education: 7 17 Credit Union wants to help you achieve your financial goals, whether that means getting out of debt, sending the kids to college, buying your first home or retiring. KOFE (Knowledge of Financial Education) provides 7 17 members with free access to confidential financial counseling and education as well as valuable online tools. This is a no-cost program available for all members.

Banking with a credit union offers numerous financial opportunities, and 7 17 Credit Union is here to help.