Credit Union vs the big banks?

Question

I've heard that credit unions are more people orinted then the bigger banks. Reason I'm asking is I've been denied a student loan from the government and loans from my bank. My ex boyfriend put me into big credit card debt. I've paid it all off but with the way I did it, it stays on my credit profile for another 3 years. I've been trying to save and I have a small limit on a credit card so it proves my trying to rebuild my credit. I really want to go to school. Do you think I'll be wasting my time and theirs if I go to a credit union?

Answer 1

Definately go with the credit unions!

I quit using banks a long time ago because I was tired of their fees. Everything I did cost me something. When they decided to start charging me for statements I left them.

Many of the people I counsel also have had much more success in getting loans from credit unions. But student loans??? I can't say. They were much easier with secured loans.

Answer 2

I belong to a credit union and a bank as well. Your credit determines what loan you get, not the financial institution giving it to you. Credit unions have the same guideline of rules for loans, they just typically have lower rates

Answer 3

I do business with both banks and credit unions. I know the credit union works with me far better than the banks !!! Of course your credit score has alot to do with things but you find the right credit union and they will work things around to make it work for you.

I have excellent relations with both my banks and the CU, it is merely my opinion that the CU is more flexible when it comes to helping their customers.

Answer 4

ditto from what scott said, they are a whole lot more cooperative than big banks because the people who work there also have a stake in the daily business and profits, if they scare away the customers, their corporate response shows up in the paycheck right away.