I am not against Credit Unions, but BEWARE they are regulated differently.
Years ago, when I called my Credit Union to let them know I had been laid off, and give them a heads up, they instantly LOCKED ALL MY ACCOUNTS.
Don’t go in blind.
Credit Union to let them know I had been laid off, and give them a heads up, they instantly LOCKED ALL MY ACCOUNTS.
Don’t go in blind.
Every credit union is different. They are regulated by the National Credit Union Administration (NCUA). Some of the larger credit unions (and some can have as many assets as a bank), will operate more like banks and some will operate the way they are supposed to as “member owned-member driven”. I love my credit union, ASI FCU, but the other day I wrote a check out to cash but I asked someone else to cash it at my credit union. They charged me $7 to cash the check. I called and complained, explaining this practice was sounding like a bank instead of my credit union - they agreed. Since credit unions are member owned, one can run for board of directors and have one vote. So, I will continue to pursue my $7.