Credit union vs. traditional bank

AT&T / Eng
DDM2K

AT&T Eng

PRE
Optum, Windstream, AT&T, Verizon
DDM2Kmore
Jul 1, 2018 8 Comments

My credit union has lower rates on any type of loan product or line of credit than my old bank. Interest bearing accounts and products are competitive. Is there anything that traditional banks are superior for vs. a CU?

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TOP 8 Comments
  • New DuQvV7
    Apps. Reach (including international). Wealth management. Credit cards. Wire. Large dollar transactions etc.

    On a case-by-case basis of course.
    Jul 1, 2018 4
    • Amazon / Other
      DirkGently

      Amazon Other

      BIO
      Holistic Detective
      DirkGentlymore
      My CU (BECU) has a better app, cheaper wire transfer, equal support for large dollar transactions, equally crappy wealth management (seriously don't use either). In terms of "reach" overseas mostly I care about ATM and BECU has a lower foreign fee and reimburses foreign ATM charges. For non wire money transfers I use TransferWise or OFX anyway. Here in Seattle they also have more branches than most of the big banks.

      The only one of those that's true is that the big banks have better credit cards, but you don't need to bank with them to get a credit card. I have credit cards from Chase, CITI, and BoA, no need to bank with them.
      Jul 1, 2018
    • New DuQvV7
      Chillax bro. Seriously.

      We will all join Boeing Employee Credit Union right away.

      Where is the Scottsdale branch again?
      Jul 1, 2018
    • Amazon / Other
      DirkGently

      Amazon Other

      BIO
      Holistic Detective
      DirkGentlymore
      I bet you can find as good locally. BECU happens to be the best one here in Seattle but that's the thing about CU's, they are local.
      Jul 1, 2018
    • VMware BobbleHat
      Got an account at BECU when I was 16. I’ve never seen a branch, but have moved millions though my accounts over time, bought houses and cars, credit cards, checking, savings, CDs, MM, auto bill pay, etc. Never had a single bad experience. I once accidentally paid an extra 10,000 towards a loan. A 2 min phone call to a real friendly human nearby, we laughed about it and it was fixed just like that.

      Every bank I’ve touched has almost driven me postal.

      Long live BECU!!
      Jul 2, 2018
  • Google UBdG56
    Join a credit union, they are not for profit, and actually care about members. Mine gives free access to coop and a bunch of other atms even though i live across the country. The app for my credit union also has as much functionality as I’d expect, and has never really let me down. They also waive atm fees upto 10$? Each month. Btw my credit union is DCU, http://dcu.org
    Jul 1, 2018 0
  • VMware BobbleHat
    Banks exist to make profit from you. Enough said.
    Jul 2, 2018 0
  • Facebook / Eng
    mrballz

    Facebook Eng

    PRE
    Microsoft
    mrballzmore
    Big banks have a nation wide branch network. That's about it.

    These days this is irrelevant IMO. I have been to a physical branch maybe three times in the last ten years. Everything is over the internet.

    On the other hand I have very low trust for the national banks, they are there to fleece you in any way possible. I think'their time has come.
    Jul 1, 2018 0

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