- They cannot charge higher than 15% APR on credit cards.
- They typically provide between 15 and 25 days grace period for monthly payments. So if you miss the due date by a day or two, you don’t pay the outrageous late fees or get automatically boosted to the usurious default rates the banks slap on you.
- Credit unions are every bit as highly regulated as the banks are and deposits to Credit Union accounts are protected by the FDIC too.
- Credit unions offer all the same types of financial products like auto loans, student aid, mortgages, retirement accounts, competitive auto insurance rates and more.
- Credit unions are smaller, more grateful for your business and thus more responsive to their customers’ needs.
- Eligibility for credit union membership is often times very easy to meet requiring members to meet simple criteria such as “must live in a certain area” or “must be a student” or “must have a job in a certain field”.
- Credit unions are almost always affiliated with ATM networks providing members with convenient ATM services at many locations even if the union doens’t have many branches.
- There is much more to learn about the benefits of credit unions and community banking. Check out more info about it at: www.MoveYourMoney.info. Also see the Credit Union National Association website at: www.cuna.org.
Move Your Money – Beat The Greedy Bankers
disgusted with the banksters on Wall Street who wrecked the economy while laughing all the way to their Swiss Bank accounts with our tax-funded bailout money. Then, after all we as taxpayers did to save their entire industry, they thanked us by jacking up credit card rates and lowering limits. Even on some credit cards where I had never made a single late payment or carried any significant balance, the banksters jacked my interest rate to nearly 30%! If you have been similarly shaken down by these greedy weasels, I am happy to share with you a perfectly legal and very gratifying way to fight back. Interested? Follow me past the jump… The way to beat these predators is to take away the one thing they care about above all else – your money. But how you ask? Do what I did. I found a local credit union, became a member of the union and moved my checking and savings accounts there. Then, once I was a “member” I opened two new credit cards and transferred my balances from my Chase, Capital One and Citi (most of which had recently jacked my rates to anywhere between 22% to 30%) to the new Visa accounts from the credit union. My new cards had introductory rates of 1.9% and after six months they will reset to a much more manageable 6%. Credit unions are in operation in nearly every county in the US and they are NON-PROFIT. So I am no longer subsidizing ridiculous bonuses for people who have failed monumentally not just as bankers, but as humans. I am also no longer paying their extortion money ridiculous interest rates and punitive fees. Consider this short list of facts about credit unions.
8 Responses to “Move Your Money – Beat The Greedy Bankers”
I love the term “banksters” – belongs in the dictionary that is published every year of American slang words!
Thank you for this personal finance post. Yes, let’s outdo the greedy banksters.
[…] Jump to Comments Back in January, the Allen School Online Blog featured a post called, “Move Your Money – Beat the Greedy Banksters”. In that post, I outlined options for people disgusted with their treatment by big Wall Street […]
I never knew that credit unions had so many benefits. I am surprised that more Americans don’t move their finances to credit unions. I agree that the greedy bankers have gone too far and don’t deserve anyone’s business.
Never before has there been a better reason to join a credit union. Every time someone closes their account at a “TOO BIG TO FAIL” bank and becomes a member of a credit union they not only help themselves but also our country. As a credit union advocate and webmaster for many years I’m no doubt a bit biased but all the things I love about credit unions only shines greater in today’s economic environment.
Many credit unions have changed their charter status to “community” over the last few years which means that anyone living in the area/community is eligible to join. A simple zip code search here http://usacreditunions.com will show you all credit unions in the area along with information on who can join.
Don’t wait. Join one today!
Don’t wait for,do it !
Getting your money away from Wall Street is good advice! So many more better investments.
Can you believe that wallstreet is making record profits and the un-employment rate is still of 9% ?