Why Credit Unions Are a Better Financial Choice For Us Than Big Banks

I’ve been with a Credit Union for over 20 years and can offer only praise for their services and costs.  I can’t imagine why anyone would chose a bank-especially a big bank- over a Credit Union.

With Credit Unions, you are not just a customer, but part owner.  Rates are better, service is better and even the smallest Credit Unions generally offer all the same services as big Banks.

My advice:  Move your business to a Credit Union today!  It’s not just best for you, it’s better for the economy and the country as a whole…..

From Daily Finance:

 

With big banks adding new fees or increasing existing fees, credit unions have been able to capitalize on the growing discontent with the financial services behemoths. Bank of Americas BAC $5 debit-card-fee fiasco alone is responsible for 20% to 50% of the new accounts at some credit unions — and new accounts have been growing steadily in recent months.Thats because many credit unions are offering cash back or reward points for debit card usage, not fees. There are other perks, too, to get you to move your business. For example, the Co-op Services Credit Union of Michigan has been successfully offering $105 to those who switch to them from a regular bank.

And credit unions are reaching out to business customers, too. FDIC data has shown bank business lending shrinking over the past year or so, while credit union commercial lending is growing.

Dollars and cents arent the only reason people are moving their money to credit unions. The fundamental setup of the system is vastly different from that at big banks. While a bank is a for-profit business, aiming to maximize earnings for its shareholders, credit unions are nonprofits. While youre simply a customer of a bank, youll be a member of a credit union, owning the whole thing along with your fellow members.

via Why Credit Unions Are a Better Financial Choice For Us Than Big Banks – DailyFinance.