Quote:
Originally Posted by saden1
What benefits will the Credit Union provide you? I mean if shit hits the fan the Credit Union aren't going to provide you with any meaningful protection beyond FDIC protection are they? Your money is FDIC insured for 100K for each account you have whether it's with a Credit Union or Bank of America account.
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If I'm correct with that bill passed last week it increased FDIC insurance up to $250,000. You need to talk to the credit union and just ask them the same question. I moved all my accounts from a large national bank to a smaller local 10 branch bank here localy. My reason for changing was when I wanted a loan to build a comercial building (small building of 4800sq ft with reantals) I was treated like a stranger at the large national bank. I finally called the small local bank and had the loan approved in just a week with terms that the national bank would have never considered. If I have a problem I can call and a person answers the phone. When I need a loan they ask when I want to pick up my check. I just like the local service and on the comercial loan they saved me thousands.