Edit

Forums ›
Finance

Credit Unions vs. Regular Banks Archived From: Finance

  • tweet this
  • Post to Facebook
  • Text Only
  • Search this Topic »
  • Classic
  • Page :
  • 1
alert mods    
   posted: Jul. 17, 2004 @ 11:40p

I am a member of a credit union and I was wondering if it makes sense to have both checking and savings accounts with a C.U. I was thinking that since C.U aren't F.D.I.C insured that maybe it would be wiser to get a regular checking account at a insured bank and keep a C.U for just savings.

What do you think about this and what are the pros/cons concerning both?


alert mods    
   posted: Jul. 18, 2004 @ 12:40a

they are insured by the feds just not the FDIC they are insured by the CU FDIC equivalent


alert mods    
   posted: Jul. 18, 2004 @ 1:25a

Not all credit unions are insured by a federal agency.

An example.

But most are insured by the NCUA, a federal agency that is the equivalent of the FDIC for credit unions.


alert mods    
   posted: Jul. 18, 2004 @ 5:21a

The real question is why not go with an online bank over either of the others ?


alert mods    
   posted: Jul. 18, 2004 @ 7:33a

More threadcrapping by kingofblacks

kingofblacks said:several CU's are online.


alert mods    
   posted: Jul. 18, 2004 @ 10:39a

CUs used to sometimes have advantages over traditional B&M banks for the casual, non-online, consumer looking for an auto loan, home loan, etc. But if you are willing to search the internet or FW these days, you can almost always find some other product that erases that advantage.


alert mods    
   posted: Jul. 18, 2004 @ 10:41a

I'm very happy with my bank, I was only asking a general question concerning both types of banks.


 Close

Sign Me In
Nickname: 
Password: 
Remember My Login Information:

Forget your login information?

Not Already A Member?
Sign Up Now!


Disclaimer: By providing links to other sites, FatWallet.com does not guarantee, approve or endorse the information or products available at these sites, nor does a link indicate any association with or endorsement by the linked site to FatWallet.com.


While FatWallet makes every effort to post correct information, offers are subject to change without notice.
Some exclusions may apply based upon merchant policies.
© 1999-2009