What are the benefits of having a credit union rather than a regular bank?
by 
snakelover
ANSWERS: 5
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Credit Unions tend to actually treat their customers like people instead of walking dollar signs or an account number. They tend to offer competitive interest rates to those with savings accounts as well as to borrowers since they aren't going absolutely nuts about generating a profit for shareholders. By being a member of a credit union, you become a part-owner and the profits get back to you in the form of interest. Credit Unions aren't insured by the FDIC, but rather the NCUSIF.
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everybody there knows my name when I go in...they treat me fairly and it is never too much trouble for them to help me with my financial affairs..They do not nickel and dime me..it's always been all services free.
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In Credit Unions where I live, the major advantages are that: 1) You put money in, and can borrow on it, but when you borrow, your original savings remain intact. They're just loaning you money which you have, to pay back a bit at a time. When you do pay money back, say £10 a week, they take some of the £10 (maybe £3) and add it to your savings, and use the rest to pay off your loan. so your savings are constantly growing. 2) The interest they charge on loans is minimal, far less than any bank. This works the other way too though, they give you minimal interest on your savings, so it isn't worth saving with them unless you foresee yourself taking out a loan in my opinion. I'm sure there are many other benefits, but those are the most significant I can think of offhand.
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you know i have learned my lessons with BANKS, they charge you all kinds of hidden fees, they are horrible horrible people to work with. A credit union is friendly are willing to work with their customer, they don't have hidden fees. If you have a Wells Fargo bank account SHUT IT DOWN!!! they will steal every penny you own, and come up with lame excuses. I hate them so much. They stole so much of my money. GRRRR Go with Credit Unions they are working for you not against you and for their profit.
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no fee's ! or so very few its a pleasure to pay as they arn't bending you over like the banks do
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