mouses wrote: ↑
Fri Sep 28, 2018 5:31 am
A lot of the complaints in this thread, like ridiculous interest rates, about banks would go away if the people used credit unions instead.
It costs $5 to belong to my credit union, which I get back if I leave. I'll leave it to the quants to calculate the opportunity cost on that.
I get medallion service, ability to wire transfer, a place to take accumulated change a couple of times a year, free ATM, ability to cash saving bonds, and coffee/popcorn.
I pay for a safe deposit box. If needed, I could get lower than average car loan.
The CU has a holiday club that pays 2% interest on up to $4,000/person. Sometimes, its CDs are competitive.
Do I keep most
of our money there? No.
I get that some people loathe BOA, Wells Fargo, and other big banks. However, brick-and-mortar has its plusses, which can be had for little cost.