banks versus credit union which one is
going to be better for your needs well
personally I don't like to support big
banks because they simply don't support
us they're designed for the rich the
wealthy and the powerful and they're
designed to extract wealth from the rest
of us I like credit unions because
they're better they're not the best but
they're better they're not for profit
they're member-owned which means it's
owned by you and they have the lowest
interest rates the lowest fees and the
most human aspect when it comes to the
way that they do business in my
experience if you're going to be late on
your credit card or your auto loan or
your mortgage and you call up one of the
big banks and tell them they're not
going to help you out at all they're
just going to push you off to the side
and say if you don't pay it we're going
to mess up your credit well that's not
my experience when it comes to credit
unions they actually work with you and I
had a client recently tell me that the
credit union even put his credit card
payments on hold for a full year because
he had financial hardship and they
didn't report him late a single time
also what happens when you overdraft it
happens to everybody on occasion I mean
come on if I said that I never
overdrafted I'd be lying to you guys
people overdraft and it's not something
that you should be charged in insane fee
for the big banks make over a billion
dollars a year on overdraft fees they're
extracting the wealth from you and
giving it to the rich and the powerful
credit unions have the lowest overdraft
fees and the one that I use becu won't
charge you for your first couple of
over draft if they're realistic so I
recommend that you look into moving your
personal money and getting your credit
cards and loans through a credit union
if you're wealthy you should definitely
work with a big bank a credit union
isn't going to cater to someone that's a
multi-millionaire in the way that a bank
would now I'm not a multi-millionaire so
I can't advise you on if your money is
safe in the bank but I've heard a lot of
multi millionaires are really happy with
the bank so if you're a millionaire you
should definitely go to the bank's if
you're not yet you should work with a
credit union and it's never bad to have
both accounts just for some safety and
security but make sure that the primary
account that you use is your credit
union account mine personally if I have
a thousand dollars in the account they
pay me sixty dollars a year in interest
it's insane the bank's just don't do
that so stick up for yourself stick up
for your financial well-being and don't
be taken advantage of by the banks who
are just trying to extract wealth from
us the regular everyday people and give
it to the elitists if you found this
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