I like the idea of a less profit-driven business that is maybe more community-focused but I wonder if they have the same capability as a bank? Have you been able to do your banking needs at a credit union? Was the customer service decent?
I like the idea of a less profit-driven business that is maybe more community-focused but I wonder if they have the same capability as a bank? Have you been able to do your banking needs at a credit union? Was the customer service decent?
Large ones are just banks with a caveat and small ones are like small banks but I find they tend to have better interest rates and such. Work ones are handy as they tend to have branches located in relation to the work such that you can more easily do something on lunch or such.
I don’t get why folks even care about interest rates when they are so negligably low anyway. When interest rates are ≤1%, I would rather get zero interest just to silence the excessive reporting, like a 1099-int for a couple dollars which serves as a kind of heartbeat signal for where your assets are kept and then having to pay your accountant to declare it. Not worth it. I would rather see the 1% go to a good cause, if not toward just improving the banking service.
You can get over 1% currently now that the fed has the cental interest rates above zero. I mean its easy enough to not get interest. You can find checking accounts with zero interest even when rates are very high and you never need fear the 1099 then.
Indeed I’ve seen basic checking accounts with no interest. Then the more feature-rich accounts which offer a number of perks at either a higher fee or higher requirements to offset the fee also include interest. That’s really backwards because an anti-feature is being bundled in. By giving up interest the client should get more features, not less.