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Monday, November 14, 2011

Four Reasons to Switch to a Credit Union

From Frugal Dad

Obviously, recent legislation (Dodd-Frank) played its part in motivating banks to add new fees, but since we can vote with our feet (and our dollars), I think it is time to look at alternatives to large banks.

For some reason, and who knows why, there is a sector of banking institutions that just can’t get the love and respect they deserve – credit unions. In the past, you used to have to meet a specific criteria in order to be a member, but now the membership requirements are about as strict as, “you have to drive by our branch at least once a year.” Read the entire article.

Editor's Note:
We transferred our savings accounts over to a local credit union over a year ago. The big banks that used to have good bank ratings no longer are considered that great. You can check out your bank's rating at BankRate.com or a credit unions ratings at BauerFinancial.com.

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