Сredit union membership

Reply Tue 10 May, 2016 09:37 am
What benefits I can get as a member of credit union?
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Reply Tue 10 May, 2016 09:38 am
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Reply Tue 10 May, 2016 11:10 am
Credit Unions offer checking accounts with no fees and savings accounts with slightly better interest rates than what you would get at a bank.
Real Music
Reply Tue 10 May, 2016 07:06 pm
My credit union used to offer checking accounts with no fees. My credit union used to offer lower rates on loans. That is no longer the case. Now my credit union charges me monthly maintenance fees that are higher than some banks. Now my credit union's loan rates are higher than some banks. Back in the 1990s and maybe the early 2000s credit union were better than most banks. Lately I've noticed that some banks are actually better than some of the credit unions. I suggest you shop around more than one bank and more than one credit union.

Ask them if there are any monthly maintenance fees for your checking account.
Ask how much is the monthly maintenance fees.
Ask what are their requirements to have monthly maintenance fees waived.
Reply Tue 10 May, 2016 07:10 pm
@Real Music,
That's odd - my credit union still has no fees on any checking account and it charges very very low interest on loans, especially car loans.

Either you have lousy credit and/or a low Fica score, or your credit union
was perhaps bought by some other bank. It's highly unusual for credit unions to charge fees or give higher interest - unless you have bad credit.
Real Music
Reply Tue 10 May, 2016 07:27 pm
My Fica score is very high. My fica score ranges from around 750 to 770 among the three major credit reporting agencies. My Fica score has been very high for at least 20 years. My credit union has not been bought by any bank. It is a credit union. I have an account with a credit union. I also have an account with two other BANKS. My credit union has changed the way they do business over the last 7 years or so. Prior to that, my credit union was great. Not anymore. The only reason I haven't closed my credit union account is because they will not permit an account to be closed while there is an active loan still open.

The accounts I have at the two different BANKS are so much better. I'm sure there are some good credit unions out there. I'm just saying that (some) of the banks are better than (some) of the credit unions. It is wised to shop around and ask some basic questions. Don't assume that all credit unions are good and all banks are bad. Research the banks and credit unions in your particular area.
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