credit union?

Question

from your experience, what is the best credit union
i'm a member of a credit union an i'm thinking of switching
i asked GTEFCU for a car loan and their interest rate was 11%
my credit is pretty good but i thought to myself
oh well maybe that's what i deserve
my friend encouraged me to apply for another credit union, i did and asked for a loan THEIR INTEREST RATE WAS 6 %.

so i'm aksing ya'll.... what's the best credit union

Answer 1

Hi,

Credit unions in general are going to offer lower rates on loans and higher rates on deposits because they're in business for YOU -- you are a member and an owner of the credit union. Banks on the other hand are in business to satisfy their stockholders (not YOU, most likely).

I'm a member of two terrific credit unions, Seattle Metropolitan CU and FirstTech CU. It depends on, in most cases, where you live or where you work whether you can belong. So asking what's the BEST credit union may not be one that you're eligible to join.

Look for a credit union that offers the services you want. Do you like to do your banking online? Check to see if they offer it. Do they belong to the Co-op Network which allows you to do your banking at many other credit union locations, not just the nearest branch of your credit union. If doing your banking in person is important, check that out. Do they belong to an ATM network that means you can access your funds or make deposits at an ATM without paying a fee? And what is their customer service like? Do you feel like a valued member/owner or just another 'customer'?

To find a credit union you can belong to in your area, check out http://www.creditunion.coop/cu_locator/index.html

Good luck!

Answer 2

6% for a car loan is really pretty low. You should jump on that.