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/biz/ - Business & Finance

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14189044 No.14189044 [Reply] [Original]

Should I bank with a credit union biz?

>> No.14189053
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14189053

>>14189044
Be your own bank.

>captcha select all images with boats

>> No.14189129

>>14189053
But I don't have bank level money. :( RIP me

>> No.14190050

>>14189044
Yes. Credit unions do not charge garbage fees and stuff like the commercial banks and deposit should be insured by the U.S. government (NCUA insurance). Just make sure that the credit union you're considering is actually insured by the NCUA.

If you have enough money and want to earn a little more interest, use the credit union for banking purposes (ATMs, check writing and deposits, getting a credit card) but open an on-line bank account with Marcus (Goldman Sachs). I think they have no minimum for opening a savings or CD account and they pay among the highest interest rates I've found. You can't write checks, deposit checks, or get a credit card through the Marcus account but you get a bit more interest. Savings accounts currently yield 2.25% and 1-year CDs yield 2.6%