Comments on: Credit Unions: Non-Profits Offer a Great Alternative to Banks

By: Young

Young — Sat, 28 Nov 2009 23:22:55 +0000

I’ve been with Teacher’s federal Credit Union on LongIsland.. I wasn’t intending to do so but it was the financial institution within my college and I enrolled due to it’s convenience. However, now that I’ve been going through hostility of one big bank and merely felt being an account number in another major bank- I’m going back to activating my CU account and am planning to open credit cards as also. I get 7.2% APR at my CU whereas BOA and citi has over 18% and 13% respectively. Also, my CU has NO annual fee, whereas the big boys ask for $29 and $26. I was a bit anxious of the dramatic differences in APR and annual fees between the major banks and my CU.. Af first thought that I might be risking at its cost without knowing what. But this article absolutely helped me make up my mind, I’m dropping by first thing on Monday to talk to my CU. Thanks!

By: Jennifer Roland

Jennifer Roland — Fri, 03 Oct 2008 22:21:03 +0000

This is great information. I’ve been with a credit union since I was a little girl. I’ve tried the big banks every once in a while, but I keep coming back to the CU because of its local focus and fast decision making.

By: Celeste Murphy

Celeste Murphy — Thu, 02 Oct 2008 02:27:18 +0000

Thanks for this post. It’s great that you pointed out that it’s not that hard to join–so many people think it is. I’ve been a credit union member for many years and now write personal finance articles for credit unions. This is another good thing about credit unions–they really want to educate people and help them make good financial choices. That’s part of the reason they’ve done better.

By: Jason Simon

Jason Simon — Wed, 01 Oct 2008 23:04:40 +0000

I don’t use a credit union, but I’m definitely going to check it out.