Frequent Contributor
TheConductor
Posts: 492
Registered: ‎07-24-2012
Re: Joining to different credit unions?

There can definitely be advantages to having two.

 

Credit unions that are more conservative in their lending practices may be able to pay higher dividends on savings, money market, etc.

 

Meanwhile, those same credit unions may be harder to get a loan from. Whereas a CU that pays out lower amounts may be more liberal in extending to you the credit you need.

 

Horses for courses, as the saying goes.

Starting: EQ 622 (myFICO 7/7/12), EX 696 (TU FAKO 8/14/12), TU 621 (CK TransRisk 7/24/12)
Current: EQ 670 (myFICO 9/8/14), EX 694 (Prosper 7/17/14) , TU 693 (WalMart 9/2/14) Goal: 700+ x3
My Wallet: Amex BCP $30k, Chase CSP VS $12.2k, Amex Zync NPSL (> 10k), C1 Venture VS $5k, Amex SPG $4.5k, Walmart (Store) $2.5k, Barclaycard Apple V $2k, Chase Freedom V $1100, BoA Cash Rewards V $500, Best Buy Rewards MC $500
My Loans: Prosper $25k/36mo
My Business: Chase Ink VS $5k