10 Reasons Credit Unions Are Better Than Banks

credit unions

If you still have your money in a big bank, you may not be getting the most out of it. More and more people are moving their money from the big corporate banks into smaller credit unions for a variety of reasons. Here are some of the more popular ones:

Member Focused

The great thing about credit unions is that they’re not-for-profit, meaning that they’re owned by members and customers instead of by stockholders. Because credit unions are member focused, they offer more benefits and options for customers. Banks, especially large banks with multiple chains across a state or country, are focused on making a profit instead of helping the customer. Credit unions care about their mem

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6 Responses to 10 Reasons Credit Unions Are Better Than Banks

  1. Joan says:

    Have I read this right? Banks offer 2-3% interest? Credit unions offer 4-6%? Those sound like rare rates.

    Try banks 0.1% and credit unions 1.5%. Of course that would still mean credit unions are paying 15 times the interest banks are paying.

  2. Julie says:

    I came here to leave a comment about rates, but saw that Joan beat me to it. Show me a credit union paying 4 to 6% and I will put all of my money there.

  3. Tony says:

    Actually, I would be wary of any credit union that was paying that much now!

  4. Nicole says:

    Be careful of services offered though. Most credit unions can not do all things a bank can do. This includes cashing U.S. savings bonds.

  5. Amanda says:

    That is not so. I worked at a credit union and we cash US Savings Bonds every day.

  6. Tana J says:

    Way to go Amanda. I currently work for a credit union and we cash US savings bonds all the time. It eventually will be less and less as the only way to purchase US savings bonds is on-line as of the 1st of the year. For those of you who don’t know please don’t generalize. I would appreciate another expample of something a bank can do and we “credit unions” can’t and I will let you know.

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