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are credit unions really better then banks?

my mom says to switch to a credit union. says they have less fees. although i don't see that. i currently bank with wells fargo and they do have a lot of fees.i just don't want to switch then see that the credit union is no different. i just seems that my bank is always charging me for crap i didn't know i signed up with and the such.

 
melody77

Asked by melody77 at 8:40 PM on Jun. 9, 2009 in Money & Work

Level 18 (5,435 Credits)
This question is closed.
Answers (6)
  • in my opinion, yes. credit unions put interest back into your acct every month and most banks don't do that. also, when you join a credit union you hold a share with them unlike a bank. and normally there are less fees especially when it comes to how much you need to open an acct.
    tnm786

    Answer by tnm786 at 8:42 PM on Jun. 9, 2009

  • I have been with my credit union for 5 years without a regular bank account and it is the best. I just joined Bank of America and all though it has minimal fess my credit union is still better and cheaper and i get more perks through my credit union
    Myni

    Answer by Myni at 8:42 PM on Jun. 9, 2009

  • Once I joined a credit union there was no way I was going back to a bank. No fee's for having an account. Even the overdraft fees are less. And if I do have to be overdrawn (which unfortunately happens in this economy) they will keep paying(no checks bouncing) up to $1000.
    Anonymous

    Answer by Anonymous at 8:45 PM on Jun. 9, 2009

  • We've been with a credit union for years! They do not charge you for each check you write, you do not have to have $500 or more in your savings in order to keep the account open, and they do count you as a shareholder. I would definitely look into your credit union.
    PSMother

    Answer by PSMother at 10:03 PM on Jun. 9, 2009

  • yes credit unions are the way to go!! I accidently bounced 2 checks last week because dear hubby didn't tell me about his withdrawls...there wasn't any fees! they have a backup of $500 per member. So there was no return check and no fees. They just took it from the "share draft acct." and took it back when my husband made his deposit. You are a member and have the perks that other banks don't have.
    Anonymous

    Answer by Anonymous at 12:09 AM on Jun. 10, 2009

  • Definitely. But rather than ask the opinions of moms, make an appointment to speak with someone at a credit union.
    rkoloms

    Answer by rkoloms at 6:42 AM on Jun. 10, 2009