Do you join a credit union?
By kingparker
@kingparker (9673)
United States
June 23, 2010 3:13pm CST
I was planning to join a credit union to deposit some of my savings there. I heard that credit union serving better than those huge banks like Wachovia; bank of America; and Chase.
Here is one question I am concerning about. People say the mortgage loan or financial loan from credit union usually have lower APR interest rate than those commercial banks. What about the interest rate for the saving accounts; CDs? Are they lower or higher?
2 responses
@TexLadyPj (1328)
• United States
23 Jun 10
Herro kingparker
My husband and I have been members of the same credit union for 30+ yrs. We have looked from time to time at banks, however, the pro's of credit unions far outweighed the pro's of a bank. Interest rates are not as important now. Check the hidden fees, minimum balance requirement. Our's is $100. We have a senior program where seniors get free checks. Our credit card rate is 9%, far less than most other banks. Check everything before you make a decision.
Prosperous mylotting
OOps, USA
@kingparker (9673)
• United States
24 Jun 10
REALLY? There is a hidden fee in a credit union too? I thought their requirement is less than those banks, so you don't have to large sum of balance to maintain from month to month.
@TexLadyPj (1328)
• United States
25 Jun 10
Herro kingparker
There is not necessarily hidden fees in a credit union. Just be careful, look at your overdrawn account fees, etc.
