The Benefits of Credit Unions

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Because credit unions are owned by members, the executive pay for senior executives is MUCH more reasonable than at a bank.
Based on what I've seen, credit unions were not as greedy or unresponsible as banks in going after no money down mortgages with inflated appraisals and unverified financial statements.

Contrarian of NC 8:25PM October 23, 2008

Credit unions were formed as a means of people pooling their resources to help eachother. As the movement has matured and new services have been added that philosophy remains at the heart of the industry. The first test, unlike at banks where profit is always the core calue, in almost all cases is will this new initiative help our members. WOW, isn't that a welcome change to banks????

Brad of VA 6:37AM October 22, 2008

The difference is that, unlike banks, credit unions are organized as non-profits.
They don't have to mistreat customers in order to pay either shareholders or the IRS.
Kind of a socialism thing, really, and it works GREAT, just as advertised above.
NOW, did you know America could have single payer health insurance that would work just as well for citizens. People-owned, no scams, no shareholders and no tax bite. We're pretty stupid if we can't make this obvious leap.

of 2:10PM October 21, 2008