Best Credit Unions for the Average Joe! Go!

[Anonymous]

http://www.bizjournals.com/phoenix/news/2015/01/11/data-breaches-hit-credit-unions-harder-than-big.h...

Other similar sources say the same thing. That does not mean credit unions are bad, but I've read that they are hit harder in several places.

I have found fourteen credit unions that double pull. Not all do, this is true, but I think most people would be shocked and surprised to find that out and usually don't even think about asking until after tha fact. It's something good to think about going into the decision. Credit Unions work well for many people, but for some they are not the right choice.

[Anonymous]

http://thehill.com/blogs/congress-blog/technology/199856-credit-unions-and-their-members-pay-a-steep...

[Anonymous]

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@Anonymous wrote:

Banks actually do have a higher level of protection in place against fraud, although I agree that fraud issues are not limited to credit unions.

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Edit: Just saw your links before my posting.  Going to read your links.

@humuhumunukunukuāpua,

@Anonymous you provide factual data sheet that we can all refer to as to why you think banks have a higher level of protection than CUs?  This is an online community where we are all learning.  If you experience led you to this conclusion, then thats you as several people will disagree with that comment on the security and credit pull aspect as @Steelercity stated.

So share where this data came from if you don't mind.

[Anonymous]

Just something else to consider. It doesn't mean a credit union is bad. They are right for some people.

September’s data breach at the retailer Home Depot cost credit unions nearly $60 million, and affected more than 7 million debit and credit cards.

“The cost to credit unions of data breaches — which seem to be occurring with increasing regularity – is rising, as the CUNA surveys clearly demonstrate,” said CUNA President and CEO Jim Nussie. “The bottom line,” he added, “is that credit union members end up paying the costs — despite the fact that the credit unions they own had nothing to do with causing the breach in the first place.”

R

[Anonymous]

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@Anonymous wrote:

http://thehill.com/blogs/congress-blog/technology/199856-credit-unions-and-their-members-pay-a-steep-price-after-data

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Neither of those articles say that what you asserted that banks offer more protection against fraud.  All their saying is that because credit union are non profit that it can be costlier to the credit unions. I belong to 6 credit unions.  5 very large ones and one local one.  The only one that double pulled was NFCU.  I've been double pulled more often by banks than credit unions

[Anonymous]

Yes- there was a great article shared by my banker about how credit unions do not always keep up with the latest technology. I will ask for a copy. Thanks.

[Anonymous]

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@Anonymous wrote:

All their saying is that because credit union are non profit that it can be costlier to the credit unions. 

costlier to the members of the credit unions, which is good to know when making a decision

[Anonymous]

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@Anonymous wrote:

Yes- there was a great article shared by my banker about how credit unions do not always keep up with the latest technology. I will ask for a copy. Thanks.

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Ok.  It doesn't change the fact that credit unions offer the same protection against fraud as banks.  I've had more fraud picked up by them by far than the major banks.

[Anonymous]

The bottom line,” he added, “is that credit union members end up paying the costs — despite the fact that the credit unions they own had nothing to do with causing the breach in the first place.”

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

http://thehill.com/blogs/congress-blog/technology/199856-credit-unions-and-their-members-pay-a-steep-price-after-data

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Neither of those articles say that what you asserted that banks offer more protection against fraud.  All their saying is that because credit union are non profit that it can be costlier to the credit unions. I belong to 6 credit unions.  5 very large ones and one local one.  The only one that double pulled was NFCU.  I've been double pulled more often by banks than credit unions

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I agree. In reading these post, it is about how the data breaches affect credit unions purse strings than big banks.  For a small credit union to re-issue 40,000 cards, it got to hurt.

@With that being said, @humuhumunukunukuāpua perhaps you should edit that initial post about the security comment.