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How Credit Unions Differ From Banks, and Which is Better
This post is by our regular contributor, Erin. Have you ever paused to consider what kind of bank you're doing business with? Or have you just gone with the one your parents signed you up with, or the one that was closest to your home? A lot of people don't think too much about the bank they choose, but it can affect a lot of things - the fees you pay, the interest rates you're eligible for on loans, and how much you can earn on your money. You might be aware that credit unions are often touted as the…
How Do I Switch from My Bank to a Credit Union?
Dear Lifehacker, I'm thinking about switching from my bank to a local credit union. What should I be on the lookout for when I make the switch? Is there anything I should know ahead of time, and how do I go about making the change? Signed, Fed Up With Big Banks
Southwest credit union eyes Gen Z with tailored app
As challenger banks target Generation Z, Dallas-based Southwest Airlines Credit Union is looking to members’ children to promote digital financial literacy. In July, it rolled out the Ace Jr. app, which lets parents set up accounts for their kids and teach them personal finance basics. Since it launched the app, the credit union has seen […]
Four Myths About Credit Unions, Debunked
Between the 2008 banking crisis and the recent Wells Fargo fiasco, it’s easy to be skeptical of banks. If you don’t like big banks, there’s an alternative, though: credit unions. Credit unions have become increasingly popular, but there are still a lot of misconceptions about how they work and what they offer.
How to Set, And Keep, Your Personal-Finance Resolutions
Whether you resolve to save more, spend less or become a better investor, you’ll need more than good intentions to keep your financial resolutions.
Exploring the Common Mistakes with Credit
Avoid common pitfalls with building credit and maintaining a strong credit score.
What did we do before credit migration and how did it work for us?
Back in January of 2003, WOCCU published a best practices report titled “Problem Resolution by Credit Union Management” which addresses operational problems that credit union managers are faced with and subsequently offer solutions for consideration. The practices highlight ‘what to look for’ and ‘what to do’ when mitigating solutions for rising, uncontrolled loan delinquencies as …
Credit Unions Warm Up to Subprime Auto Loans
Find out how credit unions are making the most of the subprime auto lending market.
Millennial Money: Don't overlook credit union credit cards
When you’re frequently bombarded with ads for credit cards at big banks, it’s easy to overlook credit cards at a local credit union. These not-for-profit organizations typically require membership based
Want Free Checking? Join a Credit Union
Though there might be reasons to stay with your bank
How Do Credit Unions Make Money?
Although operated cooperatively, the not-for-profit status of credit unions should not be confused with the non-profit status charities have. Because one thing's for sure: Credit unions make money. Learn how credit unions are able to make money and pass on benefits to members. How Credit Unions Make Money As financial institutions, credit unions generate what's considered a profit in economic terms -- which is needed to…
How Upstart and Cross River Bank are automating credit card payments
Despite advances in banking and personal finance technology, paying credit card bills in a simple, time-efficient way is still a pain point for many consumers. According to recent research, 37% of U.S. households revolved credit card debt from month to month last year. Now, loan startup Upstart and Cross River Bank are adding automation to the process through a direct credit card payoff feature they debuted last […]
The pros and cons of credit unions
Should you bank at a credit union? Marketplace senior producer of personal finance Paddy Hirsch discusses the upsides and the downsides.
