NEW YORK – Answering a reader's question about whether a credit union is a good place to look for a car loan, an MSN Money article this week outlines seven reasons that credit unions are better than banks, and not just in terms of car loans.
The seven reasons MSN Money lists are lower rates on loans, higher rates on savings, better credit card deals, easier to borrow, convenience, lowers fees, and human beings answer the phone.
When addressing the reader’s concern about safety, the article points out that members’ money is as safe at a credit union as it is at a bank. Credit unions offer the same deposit guarantee—up to $250,000.
The article goes on to say that in days past, it used to be a bit more difficult to find a credit union to join, but nowadays, many are community-based and only require that you live, work, or go to school in the area, making the membership base very broad.
The article then points readers to www.asmarterchoice.org, www.culookup.com, and www.creditunion.coop to search credit unions.
To read the MSN Money article in its entirety, click here.