Why do you want to pay rent (mo fees) at a bank, when you can loan your money for free at a Credit Union?You don't pay for writing CHECKS in a CU, you don't pay Monthly FEES for having an account there (as long as you keep a whopping, about $5 in your savings account? | |
I have accounts in more than one bank and have never paid monthly fees. I also have a credit union account which has been a blessing when I wanted a loan, but there are some services my CU does not do that I require from time to time - like get a bank draft in a foreign currency to pay for an overseas purchase, or to send my foreign-based grandson a money birthday present.
I have a big-boy bank and a credit union both.
Yet, I use the big bank for my checking
No fees if you keep a minimum balance or have direct deposit.
Main reason> I lost my card once.
I tried to call my credit union on a weekend and no one answered.
With my bank I get 24 hour customer service
Also, at my credit union, they held on to a large deposit for 9 full days (local check)
They said they are member owned and they are more careful
Also, they only have 1 ATM in my town
Also, their website is lacking - hard to do transfers
Their bank hours are much shorter
So.. there are some drawbacks to credit unions
I've not paid a fee at my big bank (not BofA, but just as big) for more than 15 years. When I did pay a fee it was because I mismanaged my funds and had an overdraft. There are no fees for anything I want to do at my bank and they give me free bill pay services.
I recently spoke to a someone else about a CU. They said it takes several days for their direct deposit to show up in their account because it is dependent on one person processing it once she gets in the office. At my big bank they have automated processes which deposit the money automatically overnight.
What's the question?
