Let me count the ways!
Just discovered that the credit union allows you to give your accounts “nicknames” in its online environment. Probably it’s ever been thus…I only tumbled to it this afternoon. So, I just spent ten minutes or so renaming all my accounts to jibe with the monikers I’ve given them in Quicken. This will much simplify making online transfers, which up to now have required me to think about what I’m doing, of all the unreasonable things.
How is the credit union better than the banks I’ve known?
- All checking accounts are free: no charges
- No minimum to qualify for free checking
- Low minimums for money market accounts
- No sneaky ways to extract extra fees from customers
- Human beings answer the phone
- Employees recognize regular customers
- Office is located at my place of work
- Another office is located 10 minutes from home
- Plenty of tellers are on duty at all times: short or no lines
- Loan rates are very low
- Loan officers are on the premises
- Online pages are easy to navigate and have many nifty amenities
- Online help is actually helpful
- Password is not your Social Security number (!!!)
How is the credit union maybe not as good as a vast faceless national bank?
- Fewer brick & mortar offices
- Fewer ATMs (but I don’t know: I don’t use ATMs)
- Difficult to manage an ETF from Japan or Europe
By how much do the plusses outweigh the minuses?
- By about 1,000 to 1