I totally agree that some CUs can be great, but to play the devil's advocate, what fees would your credit union not charge that a bank would charge?Not universally true.Most CUs charge the same fees as banks, their loan and savings rates are no better, and you generally get an outdated app and website.
Certainly not true in the case of my local credit union, which charges lower fees than banks and has an app that does anything that I need done very efficiently.
YMMV
I suppose ATM fees, since CUs can be members of the co-op network, but there are more Chase ATMs near me than credit unions.
I've also never found a CU that offers a higher tier account like BoA or Chase where you can completely waive all fees. For example, I don't know of a credit union near me that will refund international ATM fees or not charge a foreign transaction fee. I also haven't found one that will waive wire transfer fees if you have a certain balance.
For other junk fees, like account maintenance fees and overdraft fees, I'm sure many credit unions have somewhat lower fees than banks, but how many people are going to have to worry about those?
Statistics: Posted by NYCaviator — Thu May 02, 2024 6:55 am — Replies 30 — Views 1829