Banks have been in the news a lot in the last few years. With constantly rising fees and other frustrations, many people are searching for an alternative. One option is to use a credit union. Credit unions are owned by the members rather than stockholders or individuals. Do you bank at a credit union or bank? Would you consider using a credit union?
I'm with Bank of America and while credit unions have their benefits I'm fine with staying with BoA. They are currently meeting all my needs and I have had no real problems with them on top of which they come with extra benefits like depositing checks or cash directly into the ATM and having it post that same day if you do it before 8pm.
Right now I'm at a bank. But I'm happy with it so I don't think I'll move. However they do have some benefits, like less fees. Really, to tell you the truth it's confusing.
I'm have a checking and savings account at both. I joined the credit union years ago because of the benefits. I like it because nearly everyone there knows me. Even after moving away for a few years! I get free checks and money back in my account quarterly. I will never close my account there. I have a checking account with a bank for access. When I moved out of state, I needed banking services beyond an ATM. So, opened an account with Chase. When I moved back home, I just keep my accounts with Chase. I do most of my banking at the credit union though.
I have only used a bank thus far. In fact, i am not very clued up on credit unions. However, since reading about them on this forum...I am certainly going to look into it. It seems like a more prudent choice somehow. Right now, my bank offers me very necessary services...but if the credit union can offer me something similar and it seems better value (and greater transparency) - I will definitely move over.
I personally love using a bank because of the number of locations. A local credit union cannot follow me to a military base in Japan, but Bank of America can. I can access my account worldwide and engage in safe and secure international transactions. I do not see myself going to a credit union anytime soon.
We use USAA and love them. They offer so many different products, and we can even get discounts on shopping and travel. I am currently using their MoversAdvantage program to buy a house. My only complaint about USAA is that they do not have very many branches. The main bank is in San Antonio and I am quite a few hours away from there. It can make depositing cash a pain.
I have both. I have a regular account with a bank, but I also have a savings account with a local credit union. I like the fact that I am investing into a local organisation that is putting something back into the community.
I also use USAA for my credit union needs, and Chase/JP Morgan for my direct banking needs. The thing I do is compare the two the first time I am doing something new with my finances, and there are key differences. Chase used to offer miles when spending, they, as well as many others have discontinued that feature. Chase is now offering points on their rewards for using debit cards, but only when you use certain vendors. USAA has deals that they have contracted with vendors, and sometimes, the deals that they have are really awesome, sometimes, I can get a better deal through many of the programs I am a part of, and get points credited to my account. I did double dip once, though. I rented a car through USAA, and I still got my rental points through my debit card, AND I got my loyalty points through the rental car agency that I chose, which put me over the top for either a free upgrade OR a free 3 day rental. I took the free 3 day rental and used it the next time I needed a car.
I've never used a credit union before, but I've been "about to" for a few years now. I like the idea of a credit union because it's nonprofit and it benefits your immediate community. The church I used to go to in Queens had a credit union that I didn't join because at the time I had no money, and now I don't live in that part of town anymore. I'm looking for one that benefits the Harlem community now.
What is the big deal with Credit Unions? Aren't they the same as Banks? I just use a regular bank thats it. Nothing special.
A bank. At least in my country, they are supervised more and have better rates than credit unions. Credit unions are usually ruled by mobsters and have doubtfully conditions.
I use a bank. I have no problems with it except my town's branch is closing down. I'm not thrilled about it but there are still other branches around and I don't want to open a new bank account. Either way I will have to travel to another town to make deposits. I am currently happy with my bank. They do not charge a lot of fee's but I guess it all depends on what kind of bank account you have as their are many different kinds.
I have a credit union that we use for our loan needs. If I had a bunch of extra money that I could put somewhere just to earn interest I'd choose a credit union.
Unfortunately, I use a bank. I used to belong to a credit union, but that's a long story as to why I no longer do. If I could, I'd find another credit union to join and do the majority of my business with them. I'd still keep my bank accounts open, but they'd be available for certain transactions only.
I'm not too familiar with credit union can someone possibly tell me more. I know the basics I'm taking it that you get an account number and sort code right? So you can have wages paid directly into it? Do you get some form of card to use for in shop or internet use or to withdraw cash at an ATM machine or would you actually have to go into the credit union office itself to withdraw money? If so this is the one thing that would put me off and make me stay with my bank because I'm so used to having my money available as and when I need it. However if you do get some form of debit card with them I'd probably not give it a second thought switching from my bank to them because banks just seem to be money grabbing good for nothing so and so's. Currently if I go one pence of drawn with my bank I get a £35 charge that's about $60? Just shocking.
I went from a bank to a credit union roughly three years ago. Honestly, I've never looked back or regretted my decision. Financially, the credit union was the wise move as they offer interest on their checking accounts. The bank did not. From a customer service perspective, the credit union employees have been way more helpful than any of the bank employees. I highly recommend credit unions to those contemplating a switch.
I use a Credit Union, which I don't have to deposit a minimum amount to keep the account from being charged something like over-the-limit fee. Another reason I prefer Credit Union is that the customer service is excellent, and people from the Credit Union are friendly and helpful.
I am at a Credit Union and love it. They give back a certain percentage of interest back on my checking account. I also have a bank account I opened just to get the $150 offered to me for opening it and keeping it open.
I'm happy with my bank and, opposed to all those news about the banks that you say, I mostly have heard horror stories about credit unions, so while I feel tempted to try their services, because some of their saving plans are really appealing, I'm refraining myself because I have not too much money to risk considering an eventual lose if those stories are true.
