Banks vs Credit Unions Video

When you want to get the lowest rate on the money you borrow and the highest rate on the money you save, where do you go? Bank? Credit Union? Online? Let's find out.

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I agree with ...
I agree with Afroshaolin. Between my housing cooperative &? personal banking, I deal with three different credit unions. Over the years I've had accounts with many of the main banking players. For customer service, a good deal and (let's not forget) reinvesting in one's own community, credit unions are the best! Love them!

Great video for the ...
Great video for the basics on banks and credit unions. Remember the banks have no loyalty to you just the shareholders. Six more banks were closed today by the FDIC in Georgia, Florida, Minnesota? and Arkansas. Protect yourself and shop around.

thanks?
thanks?

I HAD ALL OF MY ...
I HAD ALL OF MY CASH? THAT WAS ENTRUSTED TO CENTRAL CREDIT UNION OF FLORIDA TAKEN BY USE OF A $25.00 PER MONTH FEE. THE CREDIT UNION JUSTIFIED THE FEE CALLING IT A DORMANCY FEE. I FEEL THAT THIS IS UNJUST ENRICHMENT? TO CENTRAL CREDIT UNION OF FLORIDA BECAUSE THE FEE IS NOT REQUIRED BY LAW. CENTRAL CREDIT UNION OF FLORIDA IS LOCATED IN Pensacola, FL. ??Just google "CREDIT UNION dormancy FEES" or? google? "CENTRAL CREDIT UNION TOOK $ 277.86 FROM ACCOUNT FOR DORMANCY FEES"

You go to public ...
You go to public high schools to pass tests.?

Amazing. Some of ...
Amazing. Some of these comments make? it sound like a CU is a socialist operation. It's simple. Banks are owned by stockholders, who profit from depositors and borrowers. The profits are distributed to the stockholders as dividends and executives as bonuses. CUs are owned by its members, otherwise known as depositors and borrowers. The profits are redistributed to the members in the form of higher rates on savings, and lower rates on loans, not to mention lower fees on everything else.

If you want to see ...
If you want to see just how? evil the big banks are, watch Cashtub.

The only time I ...
The only time I would use a bank is to get a lower rate on a loan if and when offered, but other then the once in a while loan offers a Credit Union can beat out a bank on anything. My Credit Cards have 9% interest. Tell me what Bank offer Visa or Master Card at 9% and my credit score is not the best. All I can say is shop around and compare for yourself. If your local Credit Union can not beat out your local bank on? rates of most general services you must live in the sticks(MAYBE ALASKA).

i have both...so to ...
i have both...so to have the best of both worlds...i use? BofA as my primary checkings and savings becuase they are EVERYWHERE....and i have a credit card with them....but hardly ever use it....my credit union i use for secondary checkings and savings but mainly for loans and credit cards....so having both is one hell of an advantage

this should all b ...
this should all b taught in high school....f**k? them educators

lol?
lol?

I LOVE my credit ...
I LOVE my credit union. I prefer it MUCH more than my? bank. Better customer service, lower interest rates, low if any service fees, and even gifts on occasion (and not some lame offer) But I have to say that access to my account through the bank is much more convenient. Branches aren't everywhere like banks are:( . Wish CU's had that much spending power.

the best place to ...
the best place to keep money is at your? house with no dam visitors

It all depends dude ...
It all depends dude. If you are worried about a bounced check, then you are better off with a credit union. I have had a checking account for a very long time and 'never' to this date had a? bounced check.

Yes, but it depends ...
Yes, but it depends on the lifestyle and circumstances of the individuals.? I use banks instead of credit unions. I could use credit unions and it would be in my better intrests. You only have to worry about fees and penalties if you do stuff to make it happen. For example if you use a credit card instead of you debit card, you won't have an overdraft fee. You only pay interest on the card if you don't pay the bill in full.

Bottom line is ...
Bottom line is lower? fees at Credit Unions.

A credit union ...
A credit union operates pretty much the same? way a co-op does

Non-profit is NOT ...
Non-profit is NOT the same as a charitable organization. Banks and credit unions pay taxes. Credit unions do not pay federal income taxes, as a non-profit but do pay many, many other state, federal, property and local taxes. Banks operate with the goal of making a profit for their stock holders. In credit unions the? members are the "stock holders" and they realize the benefits for the non-profit status.

Last I checked ...
Last I checked credit unions are non-profit and any 'profit' is used to offset costs and any excess 'profit' at the end of the year is plowed? back into the institution to make more money. Banks on the other hand usually have stockholders that need to be fed with a dividend or increasing stock price. That money needs to come from somewhere and a small interest payment isn't cutting it so raise the penalties - inactive accts, late, bounced checks are the moneymakers for the greedy piggybanks.

People, simple ...
People, simple banking 101... if you are any financial institution, you don't pay taxes. Banks, Credit unions, credit card companies, etc. So the fees they charge you, pure profit. So, i have to ask, 40 dollars or 3 dollars at your credit union, for a bounced check? I imagine that lower fees will win out. Also, credit unions are liked nationally too. This makes getting? ATMs easy. That used to be a hassle, along with check clearing. but central comuters deal with clearances.

No profit = no tax, ...
No profit = no tax, right? The would-be profit is distributed to the? shareholders who are the account holders. That's the same increase they are talking about. You are re-nameing the same funds. What's the difference?

thanks?
thanks?

haha zapatista,? so ...
haha zapatista,? so true. sweet name btw

oh so the whole ...
oh so the whole trying to make a profit for owners of a bank instead of giving it to its? members isnt why?

Absolute nonsense. ...
Absolute nonsense. The? reason credit unions can pay more on select deposits and charge less on selected loans is because they don't pay federal income taxes, and they don't pay most state taxes in addition.