this post was submitted on 29 Aug 2024
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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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[–] peto@lemm.ee 7 points 2 months ago

I have a savings account with a credit union, they can offer some pretty good rates and will generally have a very open investment strategy. Customer service has been rather good, at least when accessed via phone. I don't think my union offers things like current accounts, but I hear some do.

You experience is going to be heavily dependent on your specific union, they tend not to have as much money to throw around as major banks do, so don't expect a bespoke app or anything like that.