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Moneywise

Credit unions much more likely to offer free checking accounts than banks

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  • Brave Sir Robin San Diego, CA
    March 22, 2013 8:00 a.m.

    Why do people still use banks instead of CU's? How are banks still in business? Somebody give me one reason why a bank is better than a CU.

  • SoUtBoy25 Cedar City, UT
    March 20, 2013 5:38 p.m.

    Problem is there are so few true CU's anymore. More and more now it's just a few mega-bank CU's hiding behind their tax exempt status paying large executive salaries, taking "business" retreats to Europe, and basically just loaning to the rich and businesses...pathetic.

  • andyjaggy American Fork, UT
    March 20, 2013 12:25 p.m.

    I will never bank with a bank, credit unions all the way.

  • AveragePerson WEST JORDAN, UT
    March 20, 2013 10:18 a.m.

    Banks pay dividends to their board of directors. They also pay higher salaries to management.

    Credit Unions pay dividends to their members -- regular folk, so to speak -- and their board of directors are all volunteers. The work to keep overhead costs low and pass the savings on to their members. Customer service is, in my experience, always great.

    Been a fan of credit unions for over 30 years -- checking, savings, CDs, car loans, house loans -- I'll never go back to a bank.

  • Shawnm750 West Jordan, UT
    March 19, 2013 3:54 p.m.

    Credit unions operate under a different business model than banks. At a credit union you are a member while at a bank you are a customer. I worked for a check printing company and the amount of money that banks charge to their customers for checks and other services was always higher than credit unions. The bigger the bank, the more you pay. That's why I'll only ever do my banking through a credit union.