I love my credit union. Been with them for 25 years
@PracticalPersonalFinance
2 жыл бұрын
Credit unions rule!!
@juliochecon3635
2 жыл бұрын
Each credit Union is best?
@MrIJPSR
Жыл бұрын
Which is what bank?
@zelinaworden111
2 жыл бұрын
I belong to three Credit Unions for over 50 yrs now. I don't deal with the banks.
@joshuapierre4661
2 жыл бұрын
& those are?
@BlackQueenMagic
Жыл бұрын
Wow! I thought credit unions were new!
@MK-zy3yd
Жыл бұрын
@@BlackQueenMagic I thought my cat liked me, he just stares at me when I sleep. I wonder what he’s up to, think he might be sizing me up.
@mikeflair6800
2 жыл бұрын
Vanguard (compared to other investment firms like Fidelity) has been set up like a credit union (no investors, just owner depositor, profit distributed as lower cost)...but most people do not know this. This is how Vanguard keeps their fees lower than competitors.
@veroniquebellamy4741
Жыл бұрын
In Alberta, Canada, holdings at credit unions are more secure than banks. CDIC insurance only covers a certain amount of money. Credit Unions, however, are fully insured (with exceptions for things like common shares and mutual funds). It's why, even though I work at a big bank, I bank at a credit union.
@nadiabouchier
Жыл бұрын
Servus CU here!
@suecarolburton1481
2 жыл бұрын
I have been a member at DFCU Credit union since 1994. I love it.
@iwoww562a9
2 жыл бұрын
Downey federal credit union? 😳
@emsiesenvelopes
3 жыл бұрын
Thanks for the introduction to credit unions - I really had no idea what a credit union was before this video, so it's useful information!
@PracticalPersonalFinance
3 жыл бұрын
You're so welcome!
@vigilfox
3 жыл бұрын
As always, thanks for the important information and the educational breakdown! Valuable stuff.
@PracticalPersonalFinance
3 жыл бұрын
Thanks for tuning in Lee!! :)
@j3ffm1s7r0
Жыл бұрын
Thank you for the clear explanation, I’ve tried to understand through a few videos before yours and your video was the easiest to understand. Cheers mate!
@grantlam9247
Жыл бұрын
I am considering to get Credit Union!! Very informative
@cochetasetalsingh8908
11 ай бұрын
Love them! Always a member! Great information! I will continue to watch for your vital information. Thanks.
@rlemoyne007
Жыл бұрын
Around 4:20 we finally get to know you are talking about US credit unions. Big differences with banks and credit unions in Canada.
@michaelhuber6476
Жыл бұрын
Navy Federal is pretty good. It has a lot of branches
@Josh-py9rq
5 ай бұрын
Nope you have endless people faking having a family member who was a vet what happens? endless accounts created and now they can't help people they only accept 16 percent of fraud reports go look up consumer reports or the better business bureau reports it's horrendous! I prefer my local credit union over them. Luckily NFCU has decided to start closing these fake accounts down because good lord I won't even get a response for a message for a week. This is unacceptable to me from NFCU Hence why I prefer USAA I still have my NFCU credit union open but I am very cautious!
@chinoguarcas4205
2 жыл бұрын
Thanks for sharing all your knowledge about credit union.
@christophergould2933
Жыл бұрын
Good recap of the benefits of a Credit Union.
@scootergirl3662
2 жыл бұрын
“They have tens of millions of dollars to invest into an app. So yes, they better have a killer app “ Looking at my Chase app freezing for five minutes
@maggiecostello7120
2 жыл бұрын
Andrew, good one!! Thank you for that very useful information! I'm going to join a Credit Union! :) Keep up the good work!
@GravInducedSleepTrac
Жыл бұрын
Considering what is now happening with BIG banks credit unions are the better route for SURE! Thanks for the great information. Do credit union HOLD certain deposit amounts? I really get frustrate with big banks when they do that, especially when I have been banking with the same big bank for years & years!
@DroneConflict
Жыл бұрын
Often the immediate access restrictions to deposit funds are done as a fraud/laundering measure and may be required. Many banks and CUs do waive these restrictions if you set up a business account and provide more information about yourself and the entity
@theresaparsons1157
2 жыл бұрын
I absolutely enjoy Credit Unions, In Florida we have several.
@shortyg1018
Жыл бұрын
Yeah there's so many here in Texas I don't know who to choose from lol.
@MK-zy3yd
Жыл бұрын
I live in Florida too, my mom has several boyfriends.
@diegocenteno8835
4 ай бұрын
@shortyg1018 any updates on who you went with ?im in texas too and im considering energy capital
@rochellehughie1455
2 жыл бұрын
I am a member of a credit union.i send a shout-out to South Carolina State Credit Union
@ExiledQ
Ай бұрын
just joined a credit union and am so proud!
@tinaportelli7282
Жыл бұрын
Excellent information, thank you
@Lenny4400
Жыл бұрын
Credit Union s have helped me more than 🏦 s!
@ColtenGarrett
Жыл бұрын
My credit union has more features and that actually help then any big bank I know of.
@MrRyanlipp1980
2 жыл бұрын
Don’t the big banks take your money and invest in the world markets like the stock market and the bond markets? So when the bond market completely fails your bank will freeze
@greenecostyle8957
9 ай бұрын
I’m sold, literally switching over to my local credit union tomorrow!
@josephzhang2492
2 жыл бұрын
In New Zealand, major banks changed the their policy of accessing other banks ATMs (I think in early 2018). BTW, New Zealand Banks does not accept Cheques anymore (normal cheques, international cheques and traveller cheques). New Zealanders use online banking and card payments (both debit and credit card) cheques. (My friends, family and acquaintances are shocked when some people from other countries that does not have any bank account. Receiving wages and salaries by cheques are unheard-of in New Zealand)
@PracticalPersonalFinance
2 жыл бұрын
Always interesting to hear about what it's like in another corner of the world. Thanks for sharing!!
@dmc1806
Жыл бұрын
Sounds like you find hard 2 get small jobs tax free in the hand work is off the table also working state job no side jobs. No work for wait prison sounds alot more free than that. You make it sound like your all in a cult. Excuse me I do NOT mean 2 offend you or anyone else. Just free market getting controlled by big tech. Which runs off poor who work for cash day here or their for food or lodgings it's sad 😔 my friend. GOD BLESS YOU AND YOUR'S AMEN ✝️. FROM DUBLIN CITY REPUBLIC OF IRELAND 🇨🇮.
@neeraatkins6091
10 ай бұрын
I do work for one for 2yrs. Everything you said is true
@thatredheadguytv
5 ай бұрын
I’m glad I switched back to a credit union a few months ago. I’m at a very good one! #FMFCU
@markanthonyabejoro2537
2 жыл бұрын
Yes I'm a member ocean floor credit union
@sorahweiss5821
2 жыл бұрын
the one I joined only allows you to draw $2,500 ... otherwise, takes weeks to get more. Tricky for a main account, if you are paying your rent.
@jacobbonilla1968
2 жыл бұрын
Im not too sure i had wells Fargo they were charging my checking account when i didn't put money into it and they will close your account if its inactive same with chase bank thank god for RBFCU credit union ivebeen with them for almost 2017 i think
@PracticalPersonalFinance
2 жыл бұрын
Sounds like some classic big bank shenanigans!
@apologeticinsights
Жыл бұрын
Thank you for this video. I'm trying to determine if the NCUA is more solvent than the FDIC relative to the possibility of a "Bail-In". Do you have any information on that? Keep up the great work.
@definitelynotobama6851
Жыл бұрын
Credit union employee here. All credit union accounts in the United States are insured against the failure of the credit union in the same way bank accounts are.
@gunblade7610
Жыл бұрын
@@definitelynotobama6851 yikes, then that begs the question do we trust either then in case of a bail-in. There was that video leak where the FDIC members say that essentially FDIC does not have enough assets to liquidate to make people whole when it comes to their deposits and with that law being passed where banks will not get bailed out by taxpayers (in a sense I'm ok with that...) Banks will bail-in the deposits of our us little guys to shore up the funds of their whales and then we are left holding the bag. I was hoping NCUA operated differently in that maybe since they are smaller and more local they don't do fractional reserve and only loan out what they have and maybe their accounts don't offer HYSA but that is because they want to be able to ensure people's deposits... If you are saying NCUA is pulling from the same sinking ship of FDIC... Then it seems like on at least how secure your deposits are, it's the exact same thing as the big banks? Hmmm.... Maybe I need to get me a big mattress?
@DroneConflict
Жыл бұрын
@definitely not obama and CUs have higher demand deposit requirements I believe
@chapluck
Жыл бұрын
I recently became a alliant member,and let's see what happens 🎉
@bonniedisney9663
14 сағат бұрын
Credit unions make big profits for senior management. Most CU Presidents and CEOs make 7 figures.
@newbeginnings9457
2 жыл бұрын
Navy Federal 😎
@PracticalPersonalFinance
2 жыл бұрын
Oh yeah!!!
@stellarv5689
Жыл бұрын
Thank you for sharing this 🙏
@PracticalPersonalFinance
Жыл бұрын
You are so welcome!
@rockarollawmn
Жыл бұрын
I need to ask- what place JUST focuses on keeping my $ safe & secure? I DGAF about smiles, extras, equity, focusing on races, genders, giving to the community, voting for whatever employees, loans, donating, coin counting, paper shredding, etc. I JUST want a place to put my $ that will NOT EVER "not" have it when I want to withdraw it partially or in it's entirety. What place is essentially a locker with a COMPLETELY non-pickable, non-destroyable lock that has ATM access & online access ONLY?
@roygorman6624
2 ай бұрын
Much better than any banks!
@289cobra9
3 ай бұрын
I'm with DCU and Aligh credit union.
@Al_Camino77
Жыл бұрын
I’ve dealt with both. The difference is minimal. If you like shitty tech and apps that barely function and like watching you credit union reinvest in mergers and building massive new buildings than redistribution to members or better interest rates have at it.
@robertchildress4354
15 күн бұрын
Would recommend a local credit union or a bigger credit union
@musashidanmcgrath
2 жыл бұрын
Not so many decades ago, there were ONLY community credit unions in Ireland. There were no fiat fractional reserve based banks at all. I've always been a community credit union advocate. Fractional reserve banking is one of the worst things to happen to humanity. The world would be a much better place if fiat banking had never enslaved humanity in an eternal cycle of debt enslavement.
@tonightwerideee
2 жыл бұрын
what's a credit unions relationship with fractional reserve banking?
@Drknnja
6 ай бұрын
The same as a bank.
@icemizul
2 жыл бұрын
❤️PenFed and 👍🏾GreenState credit unions
@2020Bookworm
9 ай бұрын
Do credit unions accept anybody off the street?
@HffMtrg
2 ай бұрын
What is the prosse to become member of the credit union?
@Skitsandgiggles
2 жыл бұрын
So which union would you guys recommend? At least for someone with no big financial plans anytime soon, just want low rates and good service
@basedbulgarian511
Жыл бұрын
Credit unions often have membership requirements (geographic area or employment in an industry or company), so look on Google see what you can find for your area. One of the larger credit unions in the US only has one requirement: a US-based address. It's called the Pentagon Federal Credit Union (PenFed for short)
@ahmaniwesley3316
3 ай бұрын
LakTrust Credit Union out of Michigan 〽️😎
@israelisreal7781
4 ай бұрын
At a credit union, would I be able to take out ALL the money I have in savings with no problem?
@desiroo279
2 ай бұрын
Genesis Credit Union, Minnesota
@tallblackguy9993
2 жыл бұрын
Joined my job’s credit union when I started and I don’t even use my regions account anymore
@jeaninebrown3889
Жыл бұрын
Desert Financial in Phoenix
@deejay4837
8 ай бұрын
"how sophisticated their mobile app is"....Life does not revolve around a mobile app kid, just say how well their online presence is....
@HungNguyen-se8dn
Жыл бұрын
My choice is the Lake Michigan CU❤
@antoniogriffin5716
3 ай бұрын
I LUV MY CREDIT UNION.
@bertrandlah4465
11 ай бұрын
Victoria Customs corporative credit union. VICCUL Cameroon 🇨🇲
@davidwilkinson6099
Жыл бұрын
Golden1 CU rocks!
@FUNNYMANERICWHITE
Жыл бұрын
Thanks
@PracticalPersonalFinance
Жыл бұрын
You’re welcome thanks for watching! 😃
@Michael-y3z5h
Жыл бұрын
I want to be a member of the credit union, How can I join?
@Imhim247
2 жыл бұрын
Nice. It's safe to keep million of dollars in credit union?
@PracticalPersonalFinance
2 жыл бұрын
Hey Imhim! The most you should ever keep stashed in an account at a bank or credit union is $250,000. That's the amount you're insured for by the FDIC (for banks) and the NCUA (for credit unions). Of course, you could maintain multiple accounts at multiple financial institutions, but if you're dealing with that kind of cash, I feel you're much better off investing that money in a brokerage account, into something like index funds or bond index funds.
@Imhim247
2 жыл бұрын
@@PracticalPersonalFinance Thank you so much! I really appreciate you for telling me about this
@iamapigeyedtraitorthatisin1319
2 жыл бұрын
If you had that kind of money I'd doubt you would ask someone on KZitem for advice.
@IBHIPRU
Жыл бұрын
Are credit unions subject to bail in laws? To what extent is the NCUA funded? Just curious
@Stopp200
Жыл бұрын
St.Louis community credit union
@owascoshaw
Жыл бұрын
If I wanted to apply for a car loan, do I need to be a member first? Is there a fee?
@basedbulgarian511
Жыл бұрын
You do have to become a member. There's no fees usually with credit unions, but when you become a member, you usually automatically get a basic savings account opened for you, and you may need to keep a minimum balance on it. With most credit unions, the minimum is pretty low. Mine is $5
@Harmansehgal5
2 жыл бұрын
Where i can find this? Any site? Any location in my city?i need loan for my house
@Raquel-xm8cb
2 жыл бұрын
Good morning my name is Raquel and I felt in my spirit to find about banks or where to Open am acct. We are creating a ministry for homeless and I need an honest opinion in reference to bank. I want to thank you for your information. God bless
@kelbysiebeneich3215
9 күн бұрын
A credit union is a "NON PROFIT ORGANIZATION."... a fuckin BANK....that is non profit.... if you heard that and are still considering whether to bank with credit unions or not... you should have your answer.
@JohnDoe-bh8bt
2 жыл бұрын
What credit union do you recommend?
@UniqueRecipe101
Жыл бұрын
How do I get in one
@wellshititskyle
2 жыл бұрын
Do you know what just as good sofi bank
@markanthonyabejoro2537
Жыл бұрын
Is ocean floor credit union a legit image??? Please anyone in give an idea.thanks
@Imtussel
Жыл бұрын
How does competition affect this? If credit unions aren’t obligated to a shareholder, then they can set the rate however they decide. Banks have to compete, and so credit unions have to compete with bank rates. Banks seem more reliable in the sense that they have a built profit-based model, that is obligated to financiers. Credit systems run on something a lot less stable it seems.
@HffMtrg
2 ай бұрын
How can I get the money from you credit union
@joeyparra3937
7 ай бұрын
APPLE FCU ❤️💯
@jonnovember2136
5 күн бұрын
5:55 If you bank with #MeridianCU💳 then your assets are safer and better interest rates than most big banks🇨🇦! 🌎💘💰
@iggydagawd7287
2 жыл бұрын
Need Help I have a Question!!
@PracticalPersonalFinance
2 жыл бұрын
What's your question Iggy?!
@sharimcleod4719
2 жыл бұрын
@@PracticalPersonalFinance how can I find out which credit unions in Canada have any ties to WEF
@DJSTOEK
Жыл бұрын
❤❤
@tlbx57
Жыл бұрын
Gain real money, God's currency, gold, silver, land and cattle (commodities that people need to survive).
@deshannonfitzgerald7952
Жыл бұрын
do i take all of my money out of my bank close the accounts and put my money in a credit union? or do i keep the accounts open and leave the minimum amount in the bank? Cancel Comment
@capps2015
Жыл бұрын
Banks have Utility. If its a small community bank keep the account. If its a big national/regional close it unless your getting a nice rate.
@Chris-RN
7 ай бұрын
👏👏👏👍
@thomasnewman6811
2 жыл бұрын
Venturing into the trading world without the help of a professional trader and expecting profits is like turning water into wine, you would need a miracle, that's why i trade with mrs Eva heather, her skills set is exceptional.
@michealstackhouse9618
2 жыл бұрын
I'm surprised you know her too! I've been making a lot of profits investing with her a few months now.
@rolfmontalbano9002
2 жыл бұрын
I was skeptical at first until I decided to try. It’s huge returns is awesome! I can’t say much
@thomasnewman6811
2 жыл бұрын
@@enriquezjhn3418 You can reach her through tele
@thomasnewman6811
2 жыл бұрын
Gram, with the username
@MrEjblanco
2 жыл бұрын
Y'all know eva Heather too!?!?
@jonmiller19845
8 ай бұрын
Why does this guy add an h to every s word he says. Shtop, shavings, shubscriber....
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