Credit unions are the way to go!! That’s how you really invest and keep money within the community!

Considering in 2008 the banks needed a bail out and credit unions did not. You already know the best choice

@noel7777noel

11 ай бұрын

Yeah, The for-profit banks need to find Peters to rob. AKA "bailouts". The for-profit banks lying "everyone" can earn interest rates is a scheme. Just because Paul saves money doesn't mean Peter has to pay intrest rates borrowing money. The two accounts have nothing to do with each other. For-profit banking is rob Peter to pay Paul economics, and everyone can't be Paul. And the for-profit banks need to find Peters to rob. AKA bailouts. AKA the Glass-Steagall Act AKA Passive Income Communism AKA ponzi scheme

Stop looking at banks. Stop depositing in banks. Middle class Americans are better off using Credit Unions. Credit Unions are owned by their depositors. Interest paid exceeds your local bank, insured for the same amount as the bank. Normally interest charged is lower than banks. Use bank reward cards, carry no monthly balance. Let corporations and the rich fiancé your rewards.

Which is safer? Credit Unions! Look at the SVB and other banks failures and you already know the answer.

I just used our local credit union when I started working because that's what my parents used.

@daMillenialTrucker

Жыл бұрын

I'm with navy federal. Top tier credit union. My first credit card with them at a disgusting score of 580 they gave me an unsecured credit card of $3500 and they based that off how much money I was bringing in myself and my spending habits which is how it should be done vs a credit score I completely ruined when I was younger and had no intentions on fixing because they were all things that were gonna fall of over the next 1-2 years.

@SillyOmega

Жыл бұрын

​@@daMillenialTruckerthat sounds more like a spending problem, rather than a financial institution problem.

@hand-eye4517

Жыл бұрын

Do your research you may be losing out on some crucial banking relations / funding

@SillyOmega

Жыл бұрын

@@daMillenialTruckersorry I miss under stood you. Yes it's nice that the let you start out that way. Credit unions also care more about helping people learn financial literacy, because they care more for members

@AKEnt.

2 ай бұрын

Same here my mom join me in my GECCU credit union since i was 4 years old now i am 20. I'm happy she did ☺️

For those who are wondering all of the cons she presented for credit unions are circumvented by finding an open / large / well serviced credit unions! The phone app for the larger credit unions are amazing and they offer all the services of a bank.... she dint really give the reality of credit unions they are a LIFE changer. And some of the BEST credit unions only need non profit membership to join!

@TheModeler99

3 ай бұрын

DO you have any suggestions for credit unions

I use Navy Federal and I am very proud to be part of their community of members, Banks try to bleed me out.

@cvleb777

8 ай бұрын

Hey man, been thinking bout joining the military but I already have a bank account. I wanna use NavyFed too. What do you think should I do with my current account?

@usafshorts

8 ай бұрын

@@cvleb777 You can keep it and open s new one of move your money, always your choice, navy federal is amazing

@franciscojimenezruiz1086

8 ай бұрын

@@cvleb777Hey there, talk with a recruiter about it, they will probably have an answer for your question and any other question you have about joining.

@OCHOCINCO98

6 ай бұрын

​@@cvleb777close it and im bootcamp(basic training) your instructors will get your backing set up people from different banks come in and u do paperwork for it its easy

@AFlyingMayMay

2 ай бұрын

@@cvleb777keep it, but start a Navy Fed account and direct deposit with them. Navy Federal is leagues better

What a fantastic explanation. Thanks as always Nerd Wallet!

My family got me into a CU and I don't have much experience with banks but it does seem nice that there are democratically-run organizations that you can use to store the money you need to (if you meet the requirements) in a world that is slowly requiring you more and more to store your money with a third party. I will say though that the biggest problem is how regional they are; if I moved to a different City I can find banks with offices across the country but most CU's seem to be limited to one metro area. This means transferring funds might have a stressful transition period from one CU to another.

@daveprax8872

Жыл бұрын

Just wanted to add that you don't have "money" in the bank, you have "currency". Money is a store of value and what you have in the bank does not keep its value due to inflation. Stop calling it money and then ask yourself, what is real money? I will leave that for you to figure out so that it doesn't seem like I am promoting "real money". However, good for you for using CU's. Banks are corrupt!

I have used many different banks and credit unions over the years. Definitely recommend using a cash back credit card as the payment on all the auto payments and this way you just need to link a new account to the credit card to pay off the bill to make changing main money receiving account easily changed. Credit unions have always offered myself a lot better apr on credit cards as even their highest apr is 18% whereas some cards have with major banks are now at 29 and 30%. The most i have ever kept in an account was 15k and at major bank, i was treated like I my business didn't matter to them whereas at credit union I have always been treated like a customer. I imagine if you have 100k or more the big banks may treat you a little better, idk. Anytime I look for a loan, I always check with credit union first bc their rates are usually lot lower than what I get offered from a bank.

This was extremely helpful Thanks for teaching me what higher education has not!

They really don’t want you to go to a credit union

Problem is my credit union gives hardly nothing of APY. Transferring my direct deposit to Sofi for the APY.

Incredible information, as always!! Soooo, credit unions >>>>>>

Interesting stuff of banks/credit unions… local and larger contexts. There’s also other realities to community and larger investments. It’s true globally and other avenues of taxations and levels of connections. The grand avenue of streets and main and global… fascinating really. Stocks and risk investments. The retail and commercial And the real and also perceived competitions of influence of streams of risk and investments there’s other things like CDFI’s and on and on… Getting through crust into real… takes a bit, but it’s also people and organizations, like everything. There’s a lot of subtlety and obviousness. Just easy, it all matters.

I couldn’t concentrate on what you were saying because of your beautiful everything!

They spent just a min on credit unions and never once said anything negative about banks

@noname-mu6kn

Жыл бұрын

I feel like everyone knows about banks tho

Banks are collapsing

@SillyOmega

Жыл бұрын

Why be careful when you're a bank, when feds give you endless cash. Credit unions have insurance and investers that cover costs. So they have to be more carefull with money. Ya credit unions are better.

@hand-eye4517

Жыл бұрын

* Aggressive banks are failing* *Regional aggressive banks *

Online Banks like chime, and SOFI are the way to go now a days

I deal with 2 banks. Santander bank. Checking / savings. Middlesex savings. Checking only. This a local bank where I live. 2 Credit Unions. DCU. Checking / savings. Align credit union. Checking / savings.

I love her

Thanks for sharing this information! It helped me a lot. PD. Jesus Loves You! 😊🔥

How do you animate your video.

Good savings rates? Where?

@Moneykingkevo

Жыл бұрын

There's plenty try credit karma they current APY is 3.75 some banks offer a 4% APY just search around...I would go with Alliant credit union as well

@cw5312

Жыл бұрын

NOWHERE

@Moneykingkevo

Жыл бұрын

Open up 2 or more...find away to beat the odds...create your own APY

@proverbs2life

8 ай бұрын

Right! That was definitely a Lie!

What’s wrong with using my mattress?

@davidhiramreyes6490

9 ай бұрын

Inflation. As your money doesn’t grow it’s actually decreasing in value.

@proverbs2life

8 ай бұрын

Bed bugs

Yes they nice as long as they don't do risky investing and collapse . Only this time they will do a bail in. Using your deposits to bail their selves out of trouble. And you get a paper of ownership in their failed bank.

👍

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Can you have both a bank and credit union

@289cobra9

2 ай бұрын

Why couldn't you?

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Thats all some people have ever done is exploit those they victimize and then call it business .

SHES PRETTY

@sweetcalenita

7 ай бұрын

😂😂😂 really! wanna date her lol

wow you ripped off pbs two cents

Credit Unions are BANKS.... and Banks are investment institutions.

Have you ever heard of inflation ? Keeping money in a savings account is probably the dumbest thing you could do right now.

@Moneykingkevo

Жыл бұрын

Inflation is causing interest rates to go up so it's wise to put your money in a savings account...I got 2...1 with Alliant credit union and another with credit karma...1 of the fed also announced they expecting interest rates to go up more before they come down...so I advise to ride out this year with putting your money in a savings account...you not really losing money you always gaining

@bionicwoman9884

Жыл бұрын

ever heard of high yield online only savings accounts look it up

@Moneykingkevo

Жыл бұрын

@@bionicwoman9884 you speaking facts Alliant credit union offer High Yield checking and Savings account...it's a win win situation

@Digbong96

Жыл бұрын

Actually right now interest rates are up, therefore a savings account would be much better for when a recession happens.

@Moneykingkevo

Жыл бұрын

@@Digbong96 I see you did your research... your future gonna amazing if it's not already

Well I don't have to really worry about any of this cuz I don't have a bank or a credit union. So my money is safe no matter what. I don't care about Car loans because I don't make payments on cars. I buy cars and car so I own it the same day I buy. And I don't have to worry about no fees of any kind because well I don't have a bank or credit union.

@mzbxbooyah1326

5 ай бұрын

I’m interested in your method, would you care to share!

Man this did not help at all😂