Now that we’ve completed the second quarter 2011 ratings for both banks and credit unions, it’s a good time to think about the safest place to put your money.
Is a bank the safest haven or is the credit union down the street a better alternative? You want some assurance that you’re going to get the service you want and your nest egg is going to be safe and sound. But like most things, in banking there are differences and tradeoffs.
Since credit unions are owned by their members, they tend to be more customer focused, offering better rates on loans and other services. But they may have fewer locations and a smaller network of automatic teller machines (ATM’s) making it less convenient to visit and transact business with them. And they may have a more limited selection of loan or savings products to choose from.
Don’t like surprises?
Find out if your bank, credit union, and insurer are safe and financially strong.
