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Following two miserable bank experiences many years ago I switched to a credit union, Unitus Community Credit Union, & have never looked back. The service is warm, local & thoroughly helpful in every aspect, plus I just turned a bundle of reward points for using their VISA credit card (which I pay off monthly, avoiding any interest charges even though they are lower through them) into a flight for my UK son here in May--fantastic!! The economic disaster brought on by banks in recent years underscores the clear reasoning for avoiding banks.
These results aren't really a surprise, are they? I mean, you might as well have asked:
Which is Better? A. Chocolate Cake B. Diphtheria
Sure, someone whose livelihood depends on diphtheria might answer "B", but it will be about the same percentage that voted for Banks.
I've been both an employee (MaPS Credit Union in Salem) and a member of credit unions for years, and have also had accounts and loans with banks. When my daughter and son-in-law were looking for a home equity, they compared the service and rates of both credit unions and banks in the Portland area. Not only did they get their loan at their credit union (OnPoint) with great and speedy service, but also convinced another family member to do the same after getting the run-around from Wells Fargo for months on their mortgage loan application. Great service from credit unions--why would anyone ever go to a bank!
I have had a Credit Union account since I was 18. It only took me a year at a bank to realize I was a small fish in the financial ocean. Within months of opening an account at Northwest Community Credit Union in 1997 my local branch knew my name, greeted me with a smile, and showed me the financial light. Since then I have worked for the credit union and a bank and let me tell you there is no comparison. As an employee or a community member the choice between a bank or a credit union is like comparing night to day.
I financed my first car at at CU in 1972 and been a loyal CU member since. While I think our Oregon community banks do a good job, I've never found a need to use one...We have great CUs in Oregon. If you have never used one. Find one. You'll find it is where you belong...
I have been associated with credit unions since 1972 when we bought our first home in Oregon. We first went to a bank and were not happy with the rate or the service. My parents were members of SOFCU and suggested we give them a try. We did and have been members since. In 1982 I joined the staff at SOFCU and continue to be a strong supporter of credit unions.
Our small credit union really cares about people. They support all of our local charities, lend money to at rediculously low rates to help build low income housing, finance laying synthetic turf for a high school, and build a fair stadium only to name a few. When members can not pay their bills the credit union trys to help them, not raise their loan rates. The Board of Directors is made up of volunteers and does not receive any money, they want to give back to the community. The money stays in the local area, it does not go out of state. After 30 years as a credit union member I would never go back to a bank.
In terms of service, you can't really beat credit unions. I really lost my faith in banks while dealing with a bout of identity theft. Wamu/Chase put the burden on me to make sure they were taking care of my case. I spent many hours on the phone with inexperienced representatives who required that I jump through hoops to clear my account of massive charges (made in Belarus). They didn't even notice that weird charges were being made. The whole ordeal took nearly a month to resolve.
My credit union, on the other hand, notified immediately a card I have with them had been compromised. They were quick to replace my card and have always gone above and beyond in service. Since then I've switched my auto loan and most of my banking over to the credit union.
You don't have to live with bank shenanigans! There is an alternative. Banks only care about profits for their owners (stockholders). Credit union profits go back to you. Follow the money back to the owners! At credit unions that's YOU!
My family has been associated with credit unions for decades. I learned as a small child that credit unions offered more personal service and were more willing to lend a hand in hard times and help members plan for better times. I have been a member and employee of credit unions for over 30 years, and will always be a credit union supporter!
I have worked for a great credit union, Northwest Community Credit Union, for 22 years and within this time I have seen the upsurge of the 'banking industry' and then the downfall. We are committed to Service and I beleive that this shows with the growing business that we are getting from the customers that are leaving the "banks" and moving their accounts to credit unions to become members! Credit Unions are non profit and our board of directors are volenteers who commit their time to making credit unions a better choice.
My credit union provides great service, and offers many opportunities for my family to better our financial picture, including free financial classes. I'd recommend them anytime!
My credit union pays higher rates on savings and charges lower rates on loans than banks. We are helping members during this troubling economic time, with skip pays, loan modifications, and interest only payments. NWCU is making small business loans. My credit unions are Northwest Community Credit Union in Oregon and Golden One in California. I will be a Credit Union member for life
I have been a member of credit unions since my parents opened an account for me 41 years ago. I have always believed in the purpose of the credit unions helping the consumer to meet their financial needs. They helped me with my first loan when I needed one for $1000 to buy my first vehicle, at a time when I had no credit history. I onced tried using a commercial bank for convenience of their location but I recieved what I felt was impersonal service for what I was needing. Since then I have been a strong advocate for credit unions, I currently belong to two Northwest Community CU and Oregon Community CU.
As a member and employee of a credit union and having a husband who deals with banks I am proud to say that I will be a credit union member for life. Credit Unions are more willing to work for their members and help out in any way that they can. You should do yourself a favor and join a credit Union today!! (Northwest Community Credit Union)
I moved my checking, etc., to a local credit union (Rivermark Community) several years ago after a very sour experience with one of the big 4. It was one of the wiser financial decisions I've made.