Credit Unions - Pro's and Con's?

[SaintShane]

Have a couple friends that use CU's and was wanting to do a little research and see what exactly the benefits of using one was.

So for those out there in the know, what are the pro's and con's of credit unions?

Also, are there more reputable ones than others? I'm in Houma, and I only see a couple listed on a google search and most seem small - medium in number of locations statewide/nationally, with La. Capital looking to be the largest(most locations)

[gwballin]

I am still a member of the Internal Revenue Federal Credit Union only because I never bothered withdraw the $20 I used to start the account.

I joined because they were offering pretty good rates on auto loans but I suppose I am used to being able to use this thing called the internet to do my banking. It must be new becasue they acted like they never heard of it. I paid the car off two years early so I wouldn't have be inconvenienced anymore.

[BobE]

Originally Posted by SaintShane

Have a couple friends that use CU's and was wanting to do a little research and see what exactly the benefits of using one was.

So for those out there in the know, what are the pro's and con's of credit unions?

Also, are there more reputable ones than others? I'm in Houma, and I only see a couple listed on a google search and most seem small - medium in number of locations statewide/nationally, with La. Capital looking to be the largest(most locations)

I use Navy Federal Credit Union, for me its cheap rates, hassle free, and the best customer service I have ever received period.

[bigdaddysaints]

My wife works for the trade association for La credit unions (she has worked there for 10 yrs, and her mother for 30yrs).
She says check out this site:
Www.asmarterchoice.org
It will tell you what a CU is and help you find the one for you.
Must CU's are Service Centers, meaning you can do transactions at any CU that is a Service Center. So just because you are a member at a certain CU, doesn't mean you are limited to that CU for transactions.

If you would like, she says you could give her a call at her office and she will help you with any questions you have.. PM me if you want the #.

After joining a CU after I got married, I will NEVER go back to a bank.. Its so nice to be treated as a customer and not an acct#..

[daMixter]

Been with my CU since 1978. Never paid a dime for checking. Auto rates as low as 1.9%. No ATM transaction fees in any one of the major convenience stores in our area. Great customer service. No fee on line bill payer. Low rate home equity loans with no closing costs....what's not to love? And they have assets over $1 billion now. Customer service and strong leadership got it right....

[VVextreme]

Originally Posted by SaintShane

Have a couple friends that use CU's and was wanting to do a little research and see what exactly the benefits of using one was.

So for those out there in the know, what are the pro's and con's of credit unions?

Also, are there more reputable ones than others? I'm in Houma, and I only see a couple listed on a google search and most seem small - medium in number of locations statewide/nationally, with La. Capital looking to be the largest(most locations)

My 1.9% car loan says they are beneficial, but obviously some are better than others.

[wamland]

Originally Posted by BobE

I use Navy Federal Credit Union, for me its cheap rates, hassle free, and the best customer service I have ever received period.

This. We belong to two. Also not being part of the too big to fail is a bonus.

[bigdaddysaints]

Originally Posted by VVextreme

My 1.9% car loan says they are beneficial, but obviously some are better than others.

When I got my new car last year,
my credit was far from attractive. my credit union got me 2.9% . No where else,
not even the dealership could come close. Being a member does have its advantages.. I don't think banks care how how long you have been a customer, your not getting a better rate.just because you've been there 15, theycould care less..

[Devildog]

Originally Posted by BobE

I use Navy Federal Credit Union, for me its cheap rates, hassle free, and the best customer service I have ever received period.

Same here. In the almost 20 years I have been with Navy Fed, I have never, ever had one complaint.