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What has your experience been with a credit union? (lemm.ee)

submitted 2 months ago by loopy@lemm.ee to c/personalfinance@lemmy.ml

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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?

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[–] HubertManne@moist.catsweat.com 1 points 2 months ago (1 children)

You can get over 1% currently now that the fed has the cental interest rates above zero. I mean its easy enough to not get interest. You can find checking accounts with zero interest even when rates are very high and you never need fear the 1099 then.

[–] activistPnk@slrpnk.net 1 points 2 months ago

Indeed I’ve seen basic checking accounts with no interest. Then the more feature-rich accounts which offer a number of perks at either a higher fee or higher requirements to offset the fee also include interest. That’s really backwards because an anti-feature is being bundled in. By giving up interest the client should get more features, not less.