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Credit Unions

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takeshi74
Senior Contributor

Re: Credit Unions


@Jarnog wrote:

Is there a benefit, so to speak to joining or having multiple relationships with various CU's or banks? 


Stated above already but it all depends on your goals, priorities and specific products you're after.  They're not a magical panacea in and of themselves -- they're just another option out there.  You really just have to look at different credit unions to see if they offer anything of benefit to you.  I'm mainly with PenFed for their 5% gas card though I do keep an eye on their auto loans.

Message 11 of 14
Anonymous
Not applicable

Re: Credit Unions

I have a checking account with my local bank.  I chose to open 3 Credit Union accounts because they were a soft pull for savings accounts.  NASA, Alliant and SDFCU.  I place a small sum of money in each savings account monthly.  Makes me feel like a boss with 4 bank accounts.  To me it also feels like a good investment not to place all eggs in one basket.  Signing on for CU's is about as addictive as apping for credit cards.

Message 12 of 14
Anonymous
Not applicable

Re: Credit Unions

I bank with just one credit union and im happy as a clam. I used to have another account at a different bank but as it turns out I dont like that and decided simple is my financial way. Good luck with your decision!

Message 13 of 14
gamegrrl
Frequent Contributor

Re: Credit Unions


@Anonymous wrote:

I bank with just one credit union and im happy as a clam. I used to have another account at a different bank but as it turns out I dont like that and decided simple is my financial way. Good luck with your decision!


I do my primary banking at Huntington: Three checking and one savings account. A primary checking, a checking where I throw money every payday for big annual expenses (property taxes, car/house insurance, annual vet bill, car tags, etc.), a joint account with my fiancee and then the savings account.

 

I also have a HELOC at PNC. I opened a checking account there too, to save interest percentage points by being able to pay my monthly HELOC payment from that checking account.

 

I also have several accounts at Navy Federal, and they are BY FAR my favorite to deal with. Checking, Savings, Line of Credit, Car Loan and my primary credit card that I use to pay for EVERYTHING. Ultimately, I would like to move all my Huntington business to them, but I dread taking the time to sit down and note what automatic payments/transfers come from there and change those to come out of a NFCU account. Laziness, I know.


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Message 14 of 14
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