Do You Belong To A Credit Union? How Long and What Are The Advantages?

[saraphen]

Originally Posted by charliekilothree

Yes, car loans, personal loans mortgage loans and other services are offered by credit unions. I have been a member of a credit union since 1978 and I have taken out many loans over the years. I currently have my mortgage through my credit union. Credit unions are member owned so they are much different than banks. Banks are in the business to make money for themselves. They tend to charge you for many of the services that credit unions do free.

Like he said. I was a member of the State Employee's Credit Union when I was a State Employee, and got car loans, mortgages through them. Rates are usually lower for loans, and higher for savings. I could have kept my membership by just keeping $25 in a savings account, but I cancelled it anyway. They also have ATMs that everybody can use without an extra charge from the Credit Union.

[Chelbe]

Well, I've beeen a member for only about 2 or 3 months. So far its been fine, but I do question little $.50 and $1.00 surcharges that I'm not even sure of. I haven't attempted to take out any loans as of yet, but I hear that the credit union is good for it. The only reason I decided to join the credit union is for direct deposit. For some reason my employer does not offer direct deposit to any other financial facility.