Credit unions are having a moment—and that moment keeps begging bigger and longer. Since the financial crisis of 2008, millions of Americans have switched from banks to credit unions. Now more than 116 million people in the U.S. use credit unions.

Why? Because credit unions are a better deal. They offer better rates, fewer fees, and their superior service and people-first values empower you to get after your biggest dreams in life more quickly.

But there are some persistent myths about credit unions—allow us to clear up four of the biggest.

Myth #1: They aren’t big enough to offer financial protection.

There are big and small credit unions, but just like banks, your deposits at a credit union are insured by the federal government up to $250,000.

Myth #2: It will be hard to access my money.

Credit unions have access to a network of 30,000 free ATMs and 5,000 shared branching locations, making it easy for you to access your money anywhere.

Myth #3: I can’t join.

Anybody can join a credit union. You may be eligible based on your employer, where you live, or your family, as most credit unions allow members’ families to join.

Myth #4: They don’t offer as many perks as banks.

Credit unions offer the same financial products as banks—checking accounts, debit and credit cards, online banking, IRAs (individual retirement accounts), and home and auto loans—but because they’re not-for-profit, they return all profits to you via improved services, better rates, and fewer and lower fees.

This video from PSCU explains it well: