Bank vs Credit Union

FoxyRedLa · February 2017

My bank just went through another merger. Long story, bad experience and moving on.

Lemme have it! The good the bad the ugly!

Thank you for sharing.

HesCalledDyer · February 2017

Credit Union

Banks = money gouging profit thieves
Credit unions = nonprofit, lower interest rates on loans, free checking, no min balance bullshit on accts, can use a network of surcharge-free atm's, service is often far superior.

oftenreading · February 2017

I can see the arguments for credit unions but I have to say I get excellent service from my bank. I have a personal banker and she is fantastic; always on top of things, easy to access, a font of information and a hard worker. I'm seeing her today, actually, which prompted me to post. There's no way I would switch, as long as I have her. And wirh the bundle of bank services I have, it's all no-fee, replacement cheques are free, and interest rates are competitive.

FoxyRedLa · February 2017

I here people that work for banks say credit unions don't pay taxes...?

FoxyRedLa · February 2017

Oh and I've been on both sides and have had zero problems with either till this recent merger.

I would have stayed if the new bank would have admitted they pulled shady business and admitted my empty checking account was their fault.

And I'm sure I wasn't the only member with the same horrible experience.

northerndragon · February 2017

Credit Union

I have banked with both, however the only account I have maintained since I was 15 is with my credit union.
Credit unions are much more community oriented and therefore actually focused on promoting financial stability and improvement for their members. I get cash dividends every year, not for maintaining a minimum balance but because I am a member. To me there really isn't that much of a choice credit unions are where my money will remain.

Big banks may be ok for those with more cash than average in the bank and therefore get services like a personal bankers, however that is not the norm. Large banks also make most of their profits by investing in - to be nice - morally(not religious based) questionable business. As an example RBC in Canada is one of the major investors in the tar/oil sands in Alberta. Same as Wells Fargo in the US backing the DAPL.
Big banks are more interested in their profit and not your financial well being.

HesCalledDyer · February 2017

Credit Union

FoxyRedLa said:
I here people that work for banks say credit unions don't pay taxes...?

Correct, they are non-profit organizations.

FoxyRedLa · February 2017

I here

My point was they make it sound illegal.

Thanks for the info guys.

Bank vs Credit Union

Bank vs Credit Union 4 votes

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