Banks vs Credit Unions

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When you want to get the lowest rate on the money you borrow and the highest rate on the money you save, where do you go? Bank? Credit Union? Online? Let's find out.

Channel: News & Politics
Uploaded: April 27, 2007 at 9:55 pm
Author: MoneyTalksNews

Length: 0:01:38
Rating: 5.00
Views: 9,979

Tags: bank money finance credit union save

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Video Comments:
EmmGeeImages (Wednesday 29th of October 2008 08:55:00 PM)
People, simple banking 101... if you are any financial institution, you don't pay taxes. Banks, Credit unions, credit card companies, etc. So the fees they charge you, pure profit. So, i have to ask, 40 dollars or 3 dollars at your credit union, for a bounced check? I imagine that lower fees will win out. Also, credit unions are liked nationally too. This makes getting ATMs easy. That used to be a hassle, along with check clearing. but central comuters deal with clearances.
Robbbbski (Thursday 15th of November 2007 01:37:41 PM)
That's right banksers love paying taxes. That's why they spend so much time and money on tax specialist trying to weasel back every nickel they can from Uncle Sam.
rogerbeverage (Wednesday 8th of August 2007 01:53:08 PM)
Absolute nonsense. The reason credit unions can pay more on select deposits and charge less on selected loans is because they don't pay federal income taxes, and they don't pay most state taxes in addition.
zapatista77 (Sunday 16th of September 2007 04:22:48 PM)
oh so the whole trying to make a profit for owners of a bank instead of giving it to its members isnt why?
lonewolf1369 (Sunday 23rd of September 2007 08:13:03 PM)
haha zapatista, so true. sweet name btw
zapatista77 (Monday 24th of September 2007 06:30:04 PM)
thanks
nobodybidness (Wednesday 13th of February 2008 06:44:02 PM)
No profit = no tax, right? The would-be profit is distributed to the shareholders who are the account holders. That's the same increase they are talking about. You are re-nameing the same funds. What's the difference?