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Credit Union?

Posted by on Jan. 9, 2013 at 2:55 PM
  • 10 Replies

If you have a loan with the CU, is it safe to say that you can open a account with them? If so do they have overdraft charges, and if so are they $ 35 like the regular banks? What makes them better than the regular banks?

by on Jan. 9, 2013 at 2:55 PM
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Replies (1-10):
3boysmommaNY
by on Jan. 9, 2013 at 3:03 PM

As far as I know (from experience) you have to have an account with them before you can get a loan through them. We bought our truck through one and had to open a savings account with them. I'm not sure about over draft fees though.. I think they are a little easier on you than a regular bank. 

coolmommy2x
by Ruby Member on Jan. 9, 2013 at 3:05 PM
I have 2 accounts at 2 different CUs. I will never go back to a traditional bank again.

CUs are owned by its members, not stockholders so profits go into services, not stockholders' hands. Generally, their loan rates are lower, interest rates are competitive, no ATM fees, no minimum account balances and are generally easier to work with. I can't speak for all but I know ours do not charge an overdraft fee if you have the money in a savings account. They just transfer it.
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frndlyfn
by Emerald Member on Jan. 9, 2013 at 3:08 PM

You have to research your local ones.   In my experience living in many places credit unions are not out ot nickel and dime you.  One account i had you could overdraft 3 times before being charged.

mamaofficer
by Bronze Member on Jan. 9, 2013 at 3:17 PM

WoW, that's all I needed to know, I'm very happy with the answer I just got.

FooLynRoo
by on Jan. 9, 2013 at 3:36 PM
i had an acct before the loan i got a great rate.

yes overdraft fees you realize biuncing checks is illegal right.. why. would u plan for that??

i havent paid a bank fee of any type in over 17 years. i laugh at people who do... i dont know why anyone would
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mamaofficer
by Bronze Member on Jan. 9, 2013 at 3:48 PM

I don't have any checks, I had some money that was taken out of my account by accident. They sent the money back, but that made me overdraft.

Rust.n.Gears
by on Jan. 9, 2013 at 3:51 PM
1 mom liked this

I don't have the loans but I love that my credit union doesn't hold large checks for two weeks like the banks do. Ours has a 2 - 4 day hold and usually releases at least half of the check in 24 hours.  

kansasmom1978
by Katie on Jan. 9, 2013 at 4:00 PM

Lower fees, APRs and stockholders dont own a CU. Banks suck. CU is the only thing that I trust anymore

pinkcoffeecup
by Gold Member on Jan. 9, 2013 at 4:20 PM

We have used the credit union since we got married.   We have a loan with them as well as checking and savings with them. We don't have no problems with them. 

storkradio193
by Bronze Member on Jan. 9, 2013 at 4:45 PM

I prefer CU for lower fees, higher interest rates and much more. 

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