Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I banked with a credit union as a young person (there was a specific credit union for my mom's employer), and we always had credit union branded items in our house from their various giveaways - not just pens but juice pitchers and that kind of thing. Fond memories. Then I was eligible for PenFed later, so I joined.

But I do the majority of my banking with a large mainstream bank because it has higher interest rates on savings accounts and better online bill pay. I got a car loan from PedFed back in the days of 0% loans but they were not competitive when I was looking for a HELOC more recently: I used a smaller local bank for that.

What big bank is paying that high on savings? I only know Capone?

Amex and Ally. Both are large banks and far larger than the largest credit union.

Anonymous wrote:

Anonymous wrote:I banked with a credit union as a young person (there was a specific credit union for my mom's employer), and we always had credit union branded items in our house from their various giveaways - not just pens but juice pitchers and that kind of thing. Fond memories. Then I was eligible for PenFed later, so I joined.

But I do the majority of my banking with a large mainstream bank because it has higher interest rates on savings accounts and better online bill pay. I got a car loan from PedFed back in the days of 0% loans but they were not competitive when I was looking for a HELOC more recently: I used a smaller local bank for that.

What big bank is paying that high on savings? I only know Capone?

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I banked with a credit union as a young person (there was a specific credit union for my mom's employer), and we always had credit union branded items in our house from their various giveaways - not just pens but juice pitchers and that kind of thing. Fond memories. Then I was eligible for PenFed later, so I joined.

But I do the majority of my banking with a large mainstream bank because it has higher interest rates on savings accounts and better online bill pay. I got a car loan from PedFed back in the days of 0% loans but they were not competitive when I was looking for a HELOC more recently: I used a smaller local bank for that.

What big bank is paying that high on savings? I only know Capone?

CapOne is not a very large bank in terms of deposits. It's really a mid-sized regional as a retail deposit bank with a large credit card portfolio.

https://en.m.wikipedia.org/wiki/List_of_largest_banks_in_the_United_States

Anonymous wrote:

Anonymous wrote:I banked with a credit union as a young person (there was a specific credit union for my mom's employer), and we always had credit union branded items in our house from their various giveaways - not just pens but juice pitchers and that kind of thing. Fond memories. Then I was eligible for PenFed later, so I joined.

But I do the majority of my banking with a large mainstream bank because it has higher interest rates on savings accounts and better online bill pay. I got a car loan from PedFed back in the days of 0% loans but they were not competitive when I was looking for a HELOC more recently: I used a smaller local bank for that.

What big bank is paying that high on savings? I only know Capone?

Anonymous wrote:I banked with a credit union as a young person (there was a specific credit union for my mom's employer), and we always had credit union branded items in our house from their various giveaways - not just pens but juice pitchers and that kind of thing. Fond memories. Then I was eligible for PenFed later, so I joined.

But I do the majority of my banking with a large mainstream bank because it has higher interest rates on savings accounts and better online bill pay. I got a car loan from PedFed back in the days of 0% loans but they were not competitive when I was looking for a HELOC more recently: I used a smaller local bank for that.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:So my DD was doing a paper for school, and we read that most users of credit unions are lower income than the typical bank customer.

We are a boring DCUM family making $300k so not rich, but I think more income than average banking user? And we always use credit unions since they have lower loan rates and better savings rates. But talking to a teller there i definitely got the impression we were an outlier as more wealthy than most customers.

I can definitely see a full service bank if you are in private banking scene, but if you just have a checking account and take out occasional car loan or whatever, why are people choosing banks overs credit unions? Or is the stats I see just messed up somehow?

Credit Unions are more of a conservative trend away from government run banks. Rich or poor, though most conservatives are poor to middle class.

What the hell are you talking about? There aren’t government run banks. The difference between a credit union and a bank is that the credit union doesn't pay taxes. That’s it.

Sure, if you think banks exist for the end benefit of their bank customers and not stockholders. Which is not what banks say!

Credit unions want you to believe they’re altruistic. They’re not.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:So my DD was doing a paper for school, and we read that most users of credit unions are lower income than the typical bank customer.

We are a boring DCUM family making $300k so not rich, but I think more income than average banking user? And we always use credit unions since they have lower loan rates and better savings rates. But talking to a teller there i definitely got the impression we were an outlier as more wealthy than most customers.

I can definitely see a full service bank if you are in private banking scene, but if you just have a checking account and take out occasional car loan or whatever, why are people choosing banks overs credit unions? Or is the stats I see just messed up somehow?

Credit Unions are more of a conservative trend away from government run banks. Rich or poor, though most conservatives are poor to middle class.

What the hell are you talking about? There aren’t government run banks. The difference between a credit union and a bank is that the credit union doesn't pay taxes. That’s it.

Sure, if you think banks exist for the end benefit of their bank customers and not stockholders. Which is not what banks say!

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:So my DD was doing a paper for school, and we read that most users of credit unions are lower income than the typical bank customer.

We are a boring DCUM family making $300k so not rich, but I think more income than average banking user? And we always use credit unions since they have lower loan rates and better savings rates. But talking to a teller there i definitely got the impression we were an outlier as more wealthy than most customers.

I can definitely see a full service bank if you are in private banking scene, but if you just have a checking account and take out occasional car loan or whatever, why are people choosing banks overs credit unions? Or is the stats I see just messed up somehow?

Credit Unions are more of a conservative trend away from government run banks. Rich or poor, though most conservatives are poor to middle class.

What the hell are you talking about? There aren’t government run banks. The difference between a credit union and a bank is that the credit union doesn't pay taxes. That’s it.

Anonymous wrote:Credit unions have lower fees, pay higher interest rates, and have lower minimum balance requirements to avoid fees/get perks than commercial banks especially big banks. Anyone who cares about not giving their money away to big banks should use them. If you want to use a big bank and private banking services so you can impress others, go for it.

Anonymous wrote:

Anonymous wrote:So my DD was doing a paper for school, and we read that most users of credit unions are lower income than the typical bank customer.

We are a boring DCUM family making $300k so not rich, but I think more income than average banking user? And we always use credit unions since they have lower loan rates and better savings rates. But talking to a teller there i definitely got the impression we were an outlier as more wealthy than most customers.

I can definitely see a full service bank if you are in private banking scene, but if you just have a checking account and take out occasional car loan or whatever, why are people choosing banks overs credit unions? Or is the stats I see just messed up somehow?

Credit Unions are more of a conservative trend away from government run banks. Rich or poor, though most conservatives are poor to middle class.

Anonymous wrote:So my DD was doing a paper for school, and we read that most users of credit unions are lower income than the typical bank customer.

We are a boring DCUM family making $300k so not rich, but I think more income than average banking user? And we always use credit unions since they have lower loan rates and better savings rates. But talking to a teller there i definitely got the impression we were an outlier as more wealthy than most customers.

I can definitely see a full service bank if you are in private banking scene, but if you just have a checking account and take out occasional car loan or whatever, why are people choosing banks overs credit unions? Or is the stats I see just messed up somehow?