Credit Union tip

[mom-from-missouri]

I just called the credit union to see about opening up an account for each of my daughters with their Christmas money. They each have other accounts, but I want them to have a local one where they can go into the bank and learn from it. I was told they had to have $25 to open the account, but if they tell who recommended them (a pre-ecisting customer) then that person gets $5 credited to their account. So, I get $5 for each account they open. If anyone else is going to do this with holiday cash for their children-ask if you credit union does the same.
Also, my credit union pays 1.75% higher on CD's than the banks around here do.

[Momtwo]

Re: Credit Union tip

Good for you! Aren't credit unions great? I love mine! They pay better interest than banks and my checking it totally free.

[2moretrees]

Re: Credit Union tip

Very nice! That is a nice surprise. I'll never go back to a bank after switching to a credit union.

[terry1156]

Re: Credit Union tip

Every dollar counts, especially when they are giving them to you for free for something you would have done anyway. A nice bonus for helping your kids become more financially aware.

[seaar2000]

Re: Credit Union tip

I used to go to banks to do all my banking until about seven years ago. They would have charges for this and charges for that. My sister-in-law told me that I should switch to her credit union. It's the best move I have ever made. Compound interest is a little higher than the banks and loans are much cheaper than the banks. Like somebody else said on the thread I would never go back to a bank!