@RM21 wrote:
Interesting perspective about the difference with Credit Unions. Anymore, I prefer CU's over anything else. Personally, they just seem to have more to offer.
I guess it depends on what you mean by more to offer. While credit unions are generally more member friendly, many seem to lack the basic asthetics and technology avaliable to consumers. For example, Empower FCU had the most outdated looking website until November of last year. Additionally, the credit union still lacks the mobile check deposit feature, a World Elite MasterCard variant, a cash reward redemption (credit cards) option, and lacks 24/7/365 customer service. Empower also didn't have Apple Pay for nearly a year after release, and still lacks Samsung and Android Pay support. Also, the website doesn't allow you to register online right now, but the credit union claims they're "working on it." however I do give them credit for reaching each EMV deadline... Their cards were 100% chipped by October 1st and the old ones were deactivated on that date by the computer, while their ATM's will be replaced with EMV and up and running by October 2016. I also have to give much credit to the fact that they send you 6 free checkbooks a year for FREE if you have direct deposit. SIX.
Personally I like my Citi checking account more than my old Empower one. Citi offers a more diverse portfolio of checking accounts.. For example, my access account doesn't have overdraft fees. I went over on accident once and I didn't have to pay a $35-$38 fee, although the account doesn't allow for paper checks, however, I can still have the bank print one and send it for me, which is more convienent and cheaper anyways. Citi also has next day delivery and 3 day delivery of ACH transfer via pop money, where my credit union didn't offer that.
When it comes to credit cards, though, I like to have a diverse portfolio. Citi has its advantages over Empower in certain areas and vice-versa. If I pay on my Citi card, the avaliable credit is restored immediately. I like the 24/7/365 customer service, the higher rewards on my Double Cash; however, I like the lower interest rate and basically no fees (other than $25 for being 10 days or more late) the card offers, plus it offers 1 points per dollar spent with redemption starting at 5,000 points for a $75 gift card.
