Category: Credit Unions

Abound Credit Union Review

Abound Credit Union is a Kentucky-based institution that was first established in 1950 as the Fort Knox Civilian Employees Federal Credit Union.1 The original charter included just 10 members, but it has since grown to more than 100,000 members. As it grew, it changed its name—first to Fort Knox Federal...
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Are Credit Unions a Safe?

When you deposit money at a bank or credit union, safety should be at the top of your priority list. One of the primary reasons to use a financial institution is to keep your money safe. Instead of walking around with a month’s worth of cash—risking loss to misplacement, theft,...
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8 Best Credit Unions

We are committed to researching, testing, and recommending the best products. We may receive commissions from purchases made after visiting links within our content. Learn more about our review process. Credit unions have a reputation for excellent rates and customer service. They offer essential services like checking accounts, savings accounts,...
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Best Credit Union CDs

We survey 90 credit unions every weekday to determine which ones have the best CD rates. We’ve created this list of credit-union-specific CD rates for people who prefer to work with credit unions because they’re customer-owned and often have better rates than banks. The credit unions below are available...
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Credit Unions Work

Credit unions are nonprofit organizations that provide financial services to their members.1 If you need to save money, pay bills, or get a loan, a credit union is an all-in-one option for those services. How Banks and Credit Unions Differ Credit unions offer many of the same products and...
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Which Is Better: Banks or Credit Unions?

Both types of institutions provide robust financial services. Banks have fewer eligibility requirements and sometimes more specialized product offerings, but they offer less competitive rates and higher fees. Credit unions are more selective about their members, and small ones may not offer the specialized products you seek, but those...
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Customer Service at Credit Unions vs. Banks

The service depends, in part, on the overall culture of the organization. The quality of your interactions with staff may also depend on whom you’re talking to on any given day. That said, credit unions and small banks are known for providing a more highly personalized level of customer...
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Security of Credit Unions vs. Banks

You might wonder if it’s safer to hold deposits at a bank than at a credit union. In truth, as long as the institution holds insurance, your money is generally safe at either type of institution. The safest insurance available comes from the U.S. government. For bank accounts, the Federal Deposit Insurance...
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Rates and Fees at Credit Unions vs. Banks

Another important distinction between these two institutional types is that credit unions tend to offer more attractive rates and fees on the whole. Not only are they focused on maximizing profits for members rather than outside investors, but their not-for-profit status exempts them from the same kinds of taxes...
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Bank vs. Credit Union Products

For most customers—consumers handling personal and small-business finances—the choice of a bank or a credit union won’t limit the products available to you. The basic offerings at both types of financial institutions are virtually the same.5 Most banks and credit unions offer: Checking accounts Savings accounts Money market accounts...
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