We have been saving up our change since our son was born (he just turned 3) and we now want to put it into an account for him. We do not want to take any out so penalties for taking out is fine. What is the best to look at? Credit unions? Thank youAnswer Question
Asked by Anonymous at 5:44 PM on Sep. 8, 2010 in Money & Work
I have a traditional bank account. Only one. Every other savings account or investment money is done through a credit union. I cannot count how many savings accounts from all types of credit unions. Once a member, always a member. I like credit unions because they are 'owned' by the members and are smaller then most banks. The other good thing about credit unions is that not only are yours savings protected, CUIC, like the FDIC, but they also offer a base life insurance policy for at least $1000 or 10% of your high balance. It is a free benefit. Call around, you don't have to be a member of any particular group to join a particular credit union. My other savings is through USAA, if you are military, former military, they have great insurance rates AND a great savings program.
Answer by Joeygoat at 5:52 PM on Sep. 8, 2010
Answer by justnancyb at 5:52 PM on Sep. 8, 2010
Answer by elizabr at 5:57 PM on Sep. 8, 2010
Answer by Erica_Smerica at 9:23 PM on Sep. 8, 2010
Answer by Christina807 at 10:12 PM on Sep. 8, 2010
Answer by HotMama330 at 1:48 PM on Sep. 9, 2010
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