Sweetleaf wrote:
A credit union is better, since usually they do not have as many fees.
Like why use a bank when knowing that? Like seriously if I over-charge my debit card it either takes the payment from my savings or I just have to pay back the amount of the over-charge. So why go to a bank when they'll charge you at least a 30-dollar fee for spending 80 cents past your debit amount. When a credit union does not have a fee for that. I guess just with credit unions why banks are even still in business with the ridiculous fees they charge for little mistakes lie that?
So yeah do you use a credit union or bank and what are the pros and cons you have run into? Is what I am curious about.
Banks can also stay in business because they lend money on reserves and sell alot of their mortgages and debt and lend money on their deposits and basically print money out of thin air with fractional reserve banking and also because they get money from the FED which is the American Central Bank.Also I would use a bank for offshore purposes and I dont know if there's credit unions in other countries but I would not feel that safe having an American bank account.I have my account with a credit union but I would use a online high-yield savings account from a online bank.People use banks because they need to use a cheaper place to do financial transactions than check cashing and Western Union and get loans and deposit money and buy insurance and investments and they are ensured by the FDIC up to 250,000 dollars I think.I prefer American credit unions to big American banks.
11 Dec 2021, 5:08 am
