That's also a description of an old fashioned, Mutual savings bank,
after they were allowed to offer Checking accounts, (called something
else but I don't remember what right now). Credit unions have one
advantage, they're tax free, also I don't think it's legal to convert a
Credit Union into a Stock company, but it was perfectly legal to do that
with Mutual banks, Hence the current dearth of Mutual banks, (especially
as the converters could often make hefty profits).
On 3/26/2014 4:07 PM, steve harley wrote:
on 2014-03-26 12:53 Ann Sanfedele wrote
Thanks, Steve..
I confess, I really don't understand what a credit union is, actually..
a non-profit cooperative bank, basically; all the same services except
checks are called "share drafts"; plus you get a small say in how
things are run
I need a bank that has lots of locations and near me - the one I
chose seems
very good - I should have switched long ago.
the credit union i use belongs to a network of credit unions that
share ATMs and physical branch services; so i have free ATMs and
teller services at locations nationwide; when i'm traveling an app
tells me where find them
perhaps not worth pursuing now that you are settled, but for others'
reference:
<http://www.co-opsharedbranch.org/participating-cus/>
--
A newspaper is a device for making the ignorant more ignorant, and the crazy,
crazier.
- H.L.Mencken
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