Credit unions: better than banks?

As increasing prices continue to gas misgivings about banks, customers are turning to another: credit unions. Based on data in the Credit Union National Association, or CUNA, 3.7 million people united among those non-profit associations in 2015 to achieve a record high of complete members. With over 6,000 credit unions in the nation, these associations differ in size and solutions, as stated by the National Credit Union Administration, the independent national regulator. When there are lots of advantages for joining a credit union, there are a number of downsides, too. Think about the advantages and disadvantages of the 5 important offerings of credit unions until you become a part. Not-for-profit status boosts members-first mentality.

Guru: Credit unions have exceptional support. "Their duty is to provide their members with affordable financial solutions -- to not gouge them as profit centers." That assignment leads to quite satisfied members, also. Con: There is limited qualification.

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