Credit unions are definitely the way to go! I definitely prefer Credit Unions. What makes a credit union different is that it is member owned. You know that membership deposit you make when opening the account? That is you owning a part of the credit union. Because this is what makes a credit union different, that is why you will typically find better service and less fees. Without the corporation worrying about the big shareholders pockets, you get a better experience.
My first experience with a banking institution was with a credit union, and to this day I am still with them. I highly recommend a credit union especially seeing as now many have a large amount of locations available all across the country. My experience has always been smooth whereas I have family members that complain about their banks all the time.
Credit union definitely has its benefits, but I still feel a bit unsure about it and my bank isn't bad so I'm still using bank. It's probably going to get better so I'll probably start using Credit Union in a year or two.
I hate banks and their fees so I have a credit union. But banks have their uses too though. Banks are better when you're doing international wires and it helps that you can often have easy access to a bank teller, something you won't have with a credit union. I have one account in each. Best to have the best of both worlds
I have used both and find the fees for credit union exorbitant. Direct bank transfers are not far behind. The good thing about credit union is that the money will arrive quickly to people who might temporarily have no bank account, like my friend who got robbed while on holiday in Latin America. I made a quick emergency transfer to him, and it made a huge difference. If I make bank transfers, I prefer to send bigger sums to balance out the high transferral costs. My favourite way of sending money is still paypal. Oh no, I think I just confused it with western union!
I prefer banks because you are protected against several things that credit unions do not protect you against. I have been a big fan of banks even if they can be frustrating sometimes but they are just much safer to deal with. Well that is just probably me.
