So I only use the large credit union for "everyday" banking, at least as long as they support my grandfathered checking account (no monthly fee if you maintain a $100 balance, with a small rate of interest on any balances over $100. Their interest rates on savings are also not very competitive. The large credit union is a disappointing experience, with many attempts to sneak fees past their customers or get the customers to sign up for unnecessary services (that accrue monthly fees), much like one might experience at a big bank. I belong to two credit unions, one moderately sized and one that is very large. Not all credit unions are created equal, and not all are going to give superior experiences compared to big banks. It usually seems they are a victim of marketing. When I encounter people dealing with banks, it's a little shocking and hard to understand why they put up with it. If I was at a bank now, I would certainly move to a credit union. Their affiliation with robber investment firms is an ongoing headache.īut I'm still a member, and find the advantages over modern day common banks well worth it. When Katrina hit they donated member funds unasked in the names of corporate citizenship, which still seems strange to me in light of the fact that members capably made donations on their own. The change to a new name and the ensuing spending of tens of thousands on marketing and logo materials was disconcerting. Gone are the days when they always remembered me by name. I've not always been happy with those changes. That credit union has gone through some changes, like changing to a state charter. I joined a federal credit union when I delisted from the service back in the late 70s, and have stuck with it ever since.
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