51
What has your experience been with a credit union? (lemm.ee)
submitted 4 months ago by loopy@lemm.ee to c/personalfinance@lemmy.ml
34 comments fedilink hide all child comments

I like the idea of a less profit-driven business that is maybe more community-focused but I wonder if they have the same capability as a bank? Have you been able to do your banking needs at a credit union? Was the customer service decent?

you are viewing a single comment's thread
view the rest of the comments
[-] sugar_in_your_tea@sh.itjust.works 3 points 4 months ago

Why compare to Chase? There are plenty of online banks that have high savings rates. Ally, for example, is currently 4.2%, and my Sofi account is currently 4.5%. I honestly just use my Fidelity brokerage account as my checking and savings, and I get ~5% on each (whatever money markets are currently doing).

Get a fee-free account at a bank or CU with branches for cash transactions and maybe loans, but keep the bulk of your cash at a higher-yielding bank.

this post was submitted on 29 Aug 2024
51 points (98.1% liked)

Personal Finance

3866 readers
46 users here now

Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. Join our community, read the PF Wiki, and get on top of your finances!

Note: This community is not region centric, so if you are posting anything specific to a certain region, kindly specify that in the title (something like [USA], [EU], [AUS] etc.)

founded 2 years ago
MODERATORS
WandererLagomorph799@lemmy.ml
nieceandtows@programming.dev
nieceandtows@lemmy.ml