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My credit union must not have gotten the memo about fees and interest rates. I like my credit union because they are small - the service is great and my calls are usually answered by someone at my local branch.
My credit union must not have gotten the memo about fees and interest rates. I like my credit union because they are small - the service is great and my calls are usually answered by someone at my local branch.
Seems like the biggest drawback for most people is that credit unions have fewer branches than banks. But in an age of Internet banking, it's not a dealbreaker anymore.
This article is spot on! Credit unions rule! I am a member of two myself. I financed a car through the Fairwinds Credit Union (I live in Florida, don't know if they have them elsewhere), and got the best rate anyone could have given me.
I was actually at a WaMu a few days ago with my dad, and the chick that works there starts asking me about who I'm banking with. After I told her I belonged to a credit union, she had the balls to ask me \"What are they offering you that we can't?\". How about the fact that they're still gonna be around tomorrow, bitch? I damn near laughed when she asked me that question.
And yes, the only drawback is the lack of branches. But Fairwinds is actually extremely convenient for me. There's a branch literally at the end of my street, and another one about five minutes from my job. I would recommend them to everyone.
I have been a member of a credit union for about 12 years now.I went to them after getting the shaft by every bank in our town in one way or the other.I travel full time in an RV and only carry my credit union visa credit/debit card.I pay all my bills online and also shop with my card.I only pay fees from another atm.My money is safer and easier to get when needed.Loan rates are much better and savings/checking interest is better too.I will never go back to banks again.I can even invest through my credit union and it`s also fdic insured.
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Strangely, my credit union also has fees, but my parents' credit union is phenomenal. Never had a complaint with them.
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I've been a member of Navy Federal Credit Union longer than I can remember. Just recently, they started accepting members from all branches. I've never used any bank - and now I'm thankful.
Speaking as a member of 2 Credit Unions and until Recently 2 banks I agree with Jim. My car loan rate is great and when an error in auto payment of the loan occurred I was not charged a late fee.
I was a Bank One user in the past but after my first month there I had to start paying to see a teller and just stopped using the account. I was hit with inactivity fees which took my balance below $0 before I got any notice from the bank and then got hit with 2 Overdraft charges before I got my first bit of paperwork. In total I \"owed\" Bank One ~50 bucks before I had a piece of paper from them about the inactivity fee.
The Credit Unions I am at are Open to Members of the surrounding counties so anyone can join and they have \"partnerships\" which let me even do actual banking at other area credit unions, which includes making deposits and other normal banking operations.
The one bank I am still part of may be getting ditched as well since they cut Saturday hours in the city where I live and I basically keep them for cashing checks when I am working which is not often (worried about another inactivity fee).