4 credit unions to consider when refinancing student loans By Dori Zinn Our goal here at Credible Operations, Inc., NMLS Number 1681276, referred to as "Credible" below, is to give you the tools and confidence you need to improve your finances. Although we do promote products from our partner lenders, all opinions are our own. Refinancing with a credit union might get you a lower interest rate compared to refinancing with a bank, but keep in mind that you’ll have to join the credit union to apply. (iStock) If you’re thinking about refinancing your student loans, working with a credit union might be a good choice. Because credit unions are nonprofit organizations, they sometimes offer better rates and terms compared to banks or online lenders — which might help you save more money while refinancing.