Why do folks use banks if a credit union is available?

Why do folks use banks if a credit union is available?
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1 Answer

Answer :

I think you answered your question in your details. People who can use a credit union probably do; people with no access to one are forced to use banks.
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Related questions

My credit union charged me a five dollar fee for not updating my address. Does this seem right?

Description : My credit union charged me a five dollar fee for not updating my address. Does this seem right?

Last Answer : Same thing happened to me with my bank. And the charge was 5.00. The only difference was, I had not changed addresses. Someone accidently typed in one digit off. I went to the bank and they reversed it.

Do you use your bank's mobile deposit (take a picture of the check with a smartphone) capability?

Description : Do you use your bank's mobile deposit (take a picture of the check with a smartphone) capability?

Last Answer : I just hold the check in a folder for a few weeks – just in case there is a problem.

Uk users: can I use my abbey visa electron card in any banks cashpoint or do they charge?

Description : Uk users: can I use my abbey visa electron card in any banks cashpoint or do they charge?

Last Answer : Any cashpoint, although the shop cashpoints normally charge £1.50. But proper bank machines, you can use any.

What are the advantages of keeping money using two different banks instead of one?

Description : What are the advantages of keeping money using two different banks instead of one?

Last Answer : Advantages: if one bank has a problem (e.g. network probs) or if you have a problem at one bank (e.g. identity theft), you can go to the other bank to get $. Disadvantages: more paperwork ... incentives, you need to keep those amounts of $ in both banks, both of which likely pay low interest.

What does it mean, exactly, to "break up the banks".

Description : What does it mean, exactly, to "break up the banks".

Last Answer : I believe it is to spin off businesses into smaller more manageable banks that aren’t too big to fail.

Why is there such a disparity in CD rates between local banks and national (online) banks?

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Description : Moody's downgrades 15 global banks. Would the banks have been better served to allow homeowners to refinance?

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What would be bad for the consumer if your countries banks were nationalised?

Description : What would be bad for the consumer if your countries banks were nationalised?

Last Answer : answer:There is much about the banking and financial industries that causes consumers concern. Having the option to choose which bank or credit union with which to do business is a big ... public transport, but the lack of competition is not the key to maximizing customer satisfaction.

How is what Madoff did different than what banks do?

Description : How is what Madoff did different than what banks do?

Last Answer : He misrepresented the performance of his investments, causing his investors to think that the money they had placed with them was growing, when in fact it was vanishing. If you had invested $1 million with ... gone. But he made it appear to the investors that it was all still there, and growing.

Have you ever heard of banks not cashing checks written in red ink?

Description : Have you ever heard of banks not cashing checks written in red ink?

Last Answer : i have heard of something like this before. something to do with ink other than the black and blue you are supposed to use can be forged more easily.

How do banks communicate mergers and crisis to consumers?

Description : How do banks communicate mergers and crisis to consumers?

Last Answer : In my experience, they just sit back and let the news media do that part. They eventually send out a letter, or take out an ad in the paper, saying “Don’t worry, Be Happy”.

Do you think the Governments rescue plan and banks interest rates cuts will save the economy?

Description : Do you think the Governments rescue plan and banks interest rates cuts will save the economy?

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Do credit card companies ever check up on your web login answers?

Description : Do credit card companies ever check up on your web login answers?

Last Answer : No, they do not verify those responses. They are security questions used only to confirm your identity during transactions. You will be asked to correctly answer one or two of them before accessing your account information.

PayPal account - advice - credit card or direct checking account as default?

Description : PayPal account - advice - credit card or direct checking account as default?

Last Answer : My default into my bank. Just because I don't want to balance out from my pay pal into credit card then pay with banking. But I don't think theres anything wrong with using it into the credit card and ... can tranfer to and fro, but I don't think you can put money into your credit card from paypal.

Help, my credit card charged an annual fee!

Description : Help, my credit card charged an annual fee!

Last Answer : Call back and ask to talk to a supervisor. Explain your situation again and request they remove that charge. Point out that you have been a loyal customer of theirs and would like to remain one. I ... request a lower interest rate, I do this twice a year and get at least one reduction every year.

What happened to the Schwab Visa credit card?

Description : What happened to the Schwab Visa credit card?

Last Answer : I don’t know if they still offer or promote it or not, but I use mine at least weekly.

Feburary 22, 2010 is when the new fair credit act takes effect. Are you aware of what it covers?

Description : Feburary 22, 2010 is when the new fair credit act takes effect. Are you aware of what it covers?

Last Answer : I got a call from one cardholder saying that there was a lower payment for an over limit fee that I needed to agree to. It seemed like a no brainer to me. Less penalty or more. I like the ... be in the mail or phone to find some loopholes. Well done by Obama. Finally something for the middle class.

Should Obama be meeting with regional and community bankers to find ways to get credit flowing?

Description : Should Obama be meeting with regional and community bankers to find ways to get credit flowing?

Last Answer : It’s just symbolism. We tell everyone what do whether they meet us for drinks or not.

Other than FDIC limits, is there any reason to use more than one bank?

Description : Other than FDIC limits, is there any reason to use more than one bank?

Last Answer : Well, if you are doing online banking and stuff having a savings account online and a checking account that isn't online or that's at a different bank can help save money because online banks have ... ? this site says that they have 4 accounts because of how much they save and for security reasons.

Does anyone use savings accounts any more?

Description : Does anyone use savings accounts any more?

Last Answer : We also use a MM account and maintain a checking account.

can non-account holders use the coin counters at Commerce Bank?

Description : can non-account holders use the coin counters at Commerce Bank?

Last Answer : YES! I did it last year, and I had 20 dollars worth of pennies. It was great!

Is it normal to get $0.01 interest on $750 savings account?

Description : Is it normal to get $0.01 interest on $750 savings account?

Last Answer : Sounds normal. Interest rates are so flipping low. You could shop around for a higher rate somewhere.

Trumps financials have been turned over to the House Democrats. What do you think they will show?

Description : Trumps financials have been turned over to the House Democrats. What do you think they will show?

Last Answer : They may well show financial dealings with Russia even after he took office. As far as dodging the bullet…IDK. I have been continually astonished since the day he was elected by the electoral college.

What is an average interest payment on a savings account?

Description : What is an average interest payment on a savings account?

Last Answer : I was told that my interest is half a percent per month if I don’t take any out. I was told that when I reach a minimum of $5,000 a month that my savings interest would be 1.5 percent if I switch to a high interest savings account.

Can one give deposit money to any bank account without consent?

Description : Can one give deposit money to any bank account without consent?

Last Answer : Yes, if you have the account number, you can make a deposit.

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Description : Do you have recommendations for high rate savings accounts?

Last Answer : Purepoint financial. 2.15% Live Oak Bank 2.10 Marcus is at 2.05% Lots of others.

What are my options for getting cash from my checking account without the physical debit card?

Description : What are my options for getting cash from my checking account without the physical debit card?

Last Answer : My guess is that your fate will be determined by the temperament of whichever bank employee you happen to draw. The way I see it, so cavalier an attitude regarding your debit card raises some intriguing questions.

What is the difference between a reverse mortgage and a standard mortgage?

Description : What is the difference between a reverse mortgage and a standard mortgage?

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Description : Is there any advantage to having savings in more than one bank?

Last Answer : The FDIC limit is the only reason to spread it around.

Who can write out checks from a joint checking account?

Description : Who can write out checks from a joint checking account?

Last Answer : Both can write checks, as far as the bank is concerns, but many businesses won’t accept them from the spouse whose name is not on the check.

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What is a personal tax ID number and where can I find it?

Description : What is a personal tax ID number and where can I find it?

Last Answer : I would call to speak with a person who can assist you. Your personal tax ID number is your Social Security number and I would never give that out to anyone without knowing directy who the requester ... . Have you tried rebooting your computer? That often works for me when I run across login issues.

Bank deposits through my cell phone?

Description : Bank deposits through my cell phone?

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Is forced balancing a fraud?

Description : Is forced balancing a fraud?

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Can you write yourself a cheque?

Description : Can you write yourself a cheque?

Last Answer : I don’t think it would clear because it would look like you were just trying to bounce it.

What does it mean when a central bank increases interest rates?

Description : What does it mean when a central bank increases interest rates?

Last Answer : It's usually the interest rate that banks can borrow from each other and yes they have to pay back any money they borrow. Comercial banks will also use the central banks interest rate to ... central bank tries to reduce the amount of borrowing and therefore the potential exposure to loses of banks.

Has anybody ever heard of someone being informed over the phone that a bad check has been linked to them by their Social Security Number?

Description : Has anybody ever heard of someone being informed over the phone that a bad check has been linked to them by their Social Security Number?

Last Answer : answer:Sounds like a phishing scam. I would forget about it. Edit: Apparently, the FCC takes reports of phishing calls: http://esupport.fcc.gov/complaints.htm

Can a loan that charges a fee of any kind be considered a "simple interest" loan?

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Last Answer : answer:As I understand it, simple interest just ignores compounding. Like this: FV = principle interest periods. I would have thought compound interest is the conventional way to do a bank loan, ... interest rate, n = number of periods Is the fee being discounted? What context is this for?

Question about how a bank knows that a check has cleared - how do they know?

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Last Answer : answer:1) That would require change, and change costs money. Therefore, the only changes that they will make are those that earn back more than they cost, whether through increased volume or ... calendar day at worst, but that assumes that financial institutions have moved into the 21st century.

Anyone know of a banking app that allows syncing between my Mac and Android phone (details below)

Description : Anyone know of a banking app that allows syncing between my Mac and Android phone (details below)

Last Answer : I’m not familiar with iBank, but have you ever used Mint? There’s an Android app for it as well. It’s owned by Intuit.

Now that every bank in America has electronic banking services, and you can check your balance with the click of a mouse, does anyone still actually do the whole "check reconciliation" thing?

Description : Now that every bank in America has electronic banking services, and you can check your balance with the click of a mouse, does anyone still actually do the whole "check reconciliation" thing?

Last Answer : answer:I have to write several checks a month to the snowplow guy, to most of my home contractors (roofers, guys who installed my new skylights, arborists), the man who mows the lawn of a pocket park ... the occasional month that I get it down to the penny, I can hear my dead father praising me.

Do you think direct deposits will be late after *********?

Description : Do you think direct deposits will be late after Christmas?

Last Answer : answer:They're usually early when there's a holiday, but it depends on the company it's coming from. I know SSI checks almost always get deposited a day early in this instance. However, Wednesday was ... have mattered either way. I'd call the company, especially if it doesn't go in Thursday either.

What do you think of the Rolling Jubilee idea?

Description : What do you think of the Rolling Jubilee idea?

Last Answer : I back this 100% and will give money to it. We haven’t seen this kind of altruism since the ‘30s. People won’t easily forget this nor where it came from. If this is a symptom of the backlash, it couldn’t take a more beautiful form.

When is the currency crisis going to stop-in my lifetime?

Description : When is the currency crisis going to stop-in my lifetime?

Last Answer : It’s worrisome to me that China and India’s economies are slowing – a true global recession will be disastrous.

Cashing my Grandfathers check and I'm listed as c/o on the check?

Description : Cashing my Grandfathers check and I'm listed as c/o on the check?

Last Answer : If you give him his money, I don’t see any problem. There won’t be any problem from the bank.

How do you find out if a deceased person had a safety deposit box?

Description : How do you find out if a deceased person had a safety deposit box?

Last Answer : There certainly is a process for this within the bank and other organizations. It the responsibility of the administration of the estate. Ensure you have an official copy of the death certificate.

Can you think of any reason why we can't have full service banking 7 days a week?

Description : Can you think of any reason why we can't have full service banking 7 days a week?

Last Answer : answer:You think the banks are charging fees now for debit and other bank services? Open 7 days a week and they will charge us $5 just write a check to cover their employees salary for that xtra day. Sounds good, but I am trying to get use to a new 50 cent stamp coming out very soon.

Opening first checking account?

Description : Opening first checking account?

Last Answer : answer:Most banks charge a monthly fee ( $15 per month ) and the checks are also cost. A minimum on deposit of several hundred dollars. Most require a monthly direct deposit from the company you work for, ... your age, under 18 years old. You should see if they will let you start a savings account.

Will you join the "Bank Transfer" movement?

Description : Will you join the "Bank Transfer" movement?

Last Answer : I am planning to move my main accounts to a credit union.

Will the Labor Day holiday effect my Wednesday night direct deposit?

Description : Will the Labor Day holiday effect my Wednesday night direct deposit?

Last Answer : I highly doubt it. Only time I’ve ever seen an effect was if the holiday fell on the same day the deposit was supposed to go through.