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Banks vs Credit Unions


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cptken
PostPosted: Wed May 23, 2007 3:48 pm Post subject: Banks vs Credit Unions Reply with quote

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Which do you all feel is a better financial institution to do business with?
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yandig
PostPosted: Wed May 23, 2007 4:16 pm Post subject: Reply with quote

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If you mean doing business as a regular customer, then I'd go with a credit union. Mine has free checking, plus I have a special checking account which yields 6% interest.
Try getting that from any bank.
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t-bag
PostPosted: Mon Jun 04, 2007 12:38 pm Post subject: Reply with quote

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Yes, but my credit union only has two branches and I have to pay a surcharge to use ATM's anywhere else... Which is why I only have a savings acount there.

And you can, usually, get better rates on loans.
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JRW-910
PostPosted: Tue Jun 05, 2007 7:19 am Post subject: Reply with quote

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yandig wrote:
If you mean doing business as a regular customer, then I'd go with a credit union. Mine has free checking, plus I have a special checking account which yields 6% interest.
Try getting that from any bank.


Do you get all the features that regular banks offer? Honestly, I could not live without all of my online banking functions. This alone is enough to keep me at my bank.

As far as interest goes.... yeah banks suck. Instead of keeping my money in a savings account, I have it in CDs ... which I can take dip into without a penalty one week every month. Its not the most convenient, but its good enough for me right now.

-JRW
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t-bag
PostPosted: Tue Jun 05, 2007 10:20 am Post subject: Reply with quote

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Many money market accounts have check writing abilities and are near CD rates.

I had a MMA account at http://www.umbrellabank.com/ in '05 and loved it but had to close due to extenuating circumstances, now I just revisited their site and they only give their high yeild to large acounts so that takes them off the list but there are many other good ones:
http://www.bankrate.com/brm/rate/mmmf_highratehome.asp?params=US,416&product=33
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