2006-09-26 18:11:58 · 10 answers · asked by ELDreamer81 2 in Business & Finance ➔ Personal Finance
A bank, obviously. You'll earn interest if you pick the right one.
2006-09-26 18:14:51 · answer #1 · answered by Anonymous · 0⤊ 0⤋
First check the rate you would earn on the amount you plan to have in the account. Credit unions often check your credit to see if you can be a member, whereas banks don't. You might be interested in having a cd or money market account also.
2006-09-26 18:23:18 · answer #2 · answered by f.r.o.g. 1 · 0⤊ 0⤋
I've used both, and they both have advantages. Check out their specifics. If you think you'll want to buy a new car, the credit union will be easier. If you travel a lot, a larger bank with lots of local branches might come in handy. You just need to determine what your finances will require, then compare the costs, the interest they'll pay on savings, and the convenience each offers.
2006-09-26 18:25:14 · answer #3 · answered by Boomer Wisdom 7 · 0⤊ 0⤋
I have a savings account at a credit union and I have no monthly fees and pretty good interest rate...
i find savings accounts are better at a credit union where as banks have better chequing accounts...
2006-09-26 18:20:45 · answer #4 · answered by Jay LG 2 · 1⤊ 0⤋
It doesn't really matter which type of institution it is, the main thing you should look at is interest rates. www.bankrate.com is a good resource to find banks offering good interest rates. I personally like ING Direct, www.ingdirect.com. They make it very simple and offer one of the best rates out there. You may want to look at the other services the bank offers for future use. For example mortgage rates, investment services, etc. Most people end up doing various things with the same bank.
2006-09-26 21:27:50 · answer #5 · answered by SAJP 2 · 0⤊ 0⤋
Credit Unions usually offer better interest rates check around
2006-09-26 18:16:46 · answer #6 · answered by Mopar Muscle Gal 7 · 3⤊ 0⤋
It really depends on the bank. I would say stay away from 5/3 banks they are the worst. National city is good. However most credit unions have allot more member benefits and more lenient lending policies.
2006-09-26 18:15:25 · answer #7 · answered by Anonymous · 1⤊ 0⤋
Credit unions usually offer higher interest rates.
2006-09-26 18:20:02 · answer #8 · answered by david p 4 · 0⤊ 0⤋
credit unions usually have more perks than a bank.
2006-09-26 18:19:33 · answer #9 · answered by Anonymous · 0⤊ 0⤋
check around for the better interest rates. savings accounts don't usually pay a good interest rate.that is why other ppl are putting their money into other things.
2006-09-26 18:38:12 · answer #10 · answered by Me 3 · 0⤊ 0⤋