I never set foot in a bank. I only do my "banking" at credit unions where I am never charged a fee for any services. Interest and other rates are comparable or better than banks, and service is way better, as credit unions are member owned and they are federally insured. When I have a credit card dispute or very occasional error on something, it never takes more than 1 phone call to straighten things out. You do have to belong to a group of some sort to belong to a credit union, but often that group is a broad as living in a certain county, or having a religious or employment affiliation.
I too have always used a credit union. One thing I have noticed is I receive my payroll check by direct deposit and it is deposited 1 day earlier than everyone elses that uses a bank. I hope they don't catch on to this either! lol!!!
I too have always used a credit union. One thing I have noticed is I receive my payroll check by direct deposit and it is deposited 1 day earlier than everyone elses that uses a bank. I hope they don't catch on to this either! lol!!!
I use three credit unions, for various reasons. None of them charge a fee. True, that some banks don't charge fees, but you have certain requirements that you have to meet before you don't get fees added on (therefore not free). Some (one in particular) large banks even nickel and dime their employees!! Banks interest rates are a lot lower than credit unions (which isn't saying a lot as interest rates of anyone is low!). Not all credit unions require you to belong to anything. A few of them in our area require you to be a resident or attend a religious organization in this county or some other easily achieved requirement. I also use ING (online). They have terrific rates and is simple to use. For us this is a rainy day fund and we don't usually touch it. Hasn't rained yet I guess!
My sister-in-law was a member of a credit union and on that alone we were able to become members. That might help somebody wanting to get in. She was a cashier in a grocery store.
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