question for those who use Credit Unions

[pyotr]

Could you name some things you like about CUs?
What are some things you DON'T like about them?

[FrugalTexan75]

I like my credit union because they are easy to work with. I also like them because since there is only one main branch in town, they know me, and I know them. I also like their website for online banking - it's very easy to use.

The only thing I don't like about my credit union is the fact that they only have the one branch. So if I'm out of town, I'm not able to deposit money into my account. That's why I have an account with Washington Mutal, for when I'm out of town.

Keeping It Frugal in Texas,
Laura

I like the location - they are in the same building I'm in so when I have rebate checks, rolled coins, expense checks, etc. I can walk over and put in my EF or pay off my CC. I also like they sell postage stamps - very convenient.

I don't think their interest rates are any better than local banks though.

This is my first post BTW - have been lurking for some time.

Debbie

[ender513]

I USED to bank with a CU, but ended up switching to a bank because I needed a branch near where I lived. I really liked the service I got, and that as a poor college student they offered a checking and savings account with low minimums (and a credit card, which I guess could be good or bad depending on how you look at it). I think I just had to keep $50 in the savings and I didn't have any fees. They had okay online banking services. The only reason I switched was because I didn't have any option for direct deposit at my employeer and the branch location was incredibly difficult to get too.

That reminds me - my CU also gave my 18 year old son a car loan which helped him establish credit.

[Firefly]

There is nothing I don't like. I like that they have lower ATM usage fees than banks, the location, they are friendly, that they are less strict about lending practices.

[BAGAGT1]

What I love about my CU, is the great interest rates for savings account. The great interest rates for auto loans.

What I don't like about my CU, is that the only branch that has weekend hours is 19 miles away, which is where the only ATM that accepts deposits is located.

[DivaJen]

Things I like:
I don't pay fees for my checking
The web site offers free bill pay
The phone support is superb
I can do all of my banking via phone, mail and the internet and haven't had any problems doing so in nearly ten years

The only thing I don't like is that the CU to which I belong is in another county, about 100 miles away. (I joined it when I was teaching there.) So if I absolutely had to go to a branch, it would be extremely inconvenient. But since I do all of my banking as stated above, it's not really a problem. I think, maybe, if we were living paycheck to paycheck and needed money to clear asap, mailing deposits would be more of an issue. But we're not, so it isn't.

[ken1706]

My credit unions tend to have better rates and lower fees than the local banks.

One note about local convenience, many credit unions have joined credit union networks that share branches so you can conduct many of your transactions as if it were your own credit union branch. This might help some with the issue of the branch no longer being close by.

Here's one of the main networks:
http://www.cuswirl.com

[BAGAGT1]

Originally Posted by ken1706

My credit unions tend to have better rates and lower fees than the local banks.

One note about local convenience, many credit unions have joined credit union networks that share branches so you can conduct many of your transactions as if it were your own credit union branch. This might help some with the issue of the branch no longer being close by.

Here's one of the main networks:
http://www.cuswirl.com

Unfortunately for me, this is not the case. While my CU does belong to a CU Service Center organizations, there isn't a service center near me that is open on a Saturday, and the only Deposit Taking ATM is in a office building that is off limits to the general public.

http://www.cuservicecenter.com/

[EHadden]

I like my CU because it is not a big conglomerate that doesn't know you unless you give them your account number, mother'smaiden name, blood type and a fingerprint scan (feels like an invasive exam everytime I go into National City). The one main thing I HATE about my CU is that there is only one ATM in the city (300,000+ population) that I can use for free.

[jhd815]

My credit union at work is small, only 208 members. I like it because it is run by us (the employees) and I use them primarily for savings. Since it is taken out of my payroll check automatically, it forces me to save and I don't even miss it. I also use them for small loans and our interest rates are competitive. We also offer car loans but I've never used the CU for that as the dealer or my bank has always been able to beat our CU interest rate.

[lrjohnson]

There is nothing I don't like about my credit union. I have had superb customer service, just superb.

For example, a few years ago I bought checks from a private company online. Either I or the company messed up, because my account number on the checks was wrong. The CU called me and said that they had been posting all my transactions manually, and they would refund what I paid for the bad checks and issue me new ones free. I explained that the "bad checks" weren't the CU's fault-they still insisted on giving me new free checks and refunding *what I paid to a private company*!

I had my debit card "skimmed" and my account was used by a thief-the process to correct it was so easy!

No fees for going to the CU-free coin wrappers. Free checking. Many ATMs available. Online banking. I also like it being not for profit.

I have not gotten a loan from my CU, can't speak to that.

[StevenM]

I like the great used car loan rates. I got a fantastic used car loan rate through my CU, only 4.75% with no fees & they gave me a $100.00 loan origination bonus. My regular bank wouldn't give me a loan at all, and I had a 9% offer with road loans.com.