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?

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.

I belong to three Credit Unions for over 50 yrs now. I don't deal with the banks.

@joshuapierre4661

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.

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!

I have been a member at DFCU Credit union since 1994. I love it.

@iwoww562a9

2 жыл бұрын

Downey federal credit union? 😳

Love them! Always a member! Great information! I will continue to watch for your vital information. Thanks.

Thanks for sharing all your knowledge about credit union.

Andrew, good one!! Thank you for that very useful information! I'm going to join a Credit Union! :) Keep up the good work!

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!

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

2 жыл бұрын

You're so welcome!

I am considering to get Credit Union!! Very informative

Good recap of the benefits of a Credit Union.

As always, thanks for the important information and the educational breakdown! Valuable stuff.

@PracticalPersonalFinance

2 жыл бұрын

Thanks for tuning in Lee!! :)

Around 4:20 we finally get to know you are talking about US credit unions. Big differences with banks and credit unions in Canada.

Excellent information, thank you

Thank you for sharing this 🙏

@PracticalPersonalFinance

Жыл бұрын

You are so welcome!

I am a member of a credit union.i send a shout-out to South Carolina State Credit Union

“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

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

I recently became a alliant member,and let's see what happens 🎉

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

2 ай бұрын

@shortyg1018 any updates on who you went with ?im in texas too and im considering energy capital

I’m sold, literally switching over to my local credit union tomorrow!

I do work for one for 2yrs. Everything you said is true

Navy Federal is pretty good. It has a lot of branches

@Josh-py9rq

3 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!

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.

Yes I'm a member ocean floor credit union

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!

Credit Union s have helped me more than 🏦 s!

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 🇨🇮.

Joined my job’s credit union when I started and I don’t even use my regions account anymore

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?

I’m glad I switched back to a credit union a few months ago. I’m at a very good one! #FMFCU

My credit union has more features and that actually help then any big bank I know of.

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

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

11 ай 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)

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

Are credit unions subject to bail in laws? To what extent is the NCUA funded? Just curious

what's a credit unions relationship with fractional reserve banking?

@Drknnja

4 ай бұрын

The same as a bank.

Where i can find this? Any site? Any location in my city?i need loan for my house

What is the prosse to become member of the credit union?

Do you know what just as good sofi bank

i have never partner with a credit union i think i have to start

Is ocean floor credit union a legit image??? Please anyone in give an idea.thanks

At a credit union, would I be able to take out ALL the money I have in savings with no problem?

Much better than any banks!

❤️PenFed and 👍🏾GreenState credit unions

LakTrust Credit Union out of Michigan 〽️😎

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

How do I get in one

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.

Thanks

@PracticalPersonalFinance

Жыл бұрын

You’re welcome thanks for watching! 😃

I want to be a member of the credit union, How can I join?

If I wanted to apply for a car loan, do I need to be a member first? Is there a fee?

@basedbulgarian511

11 ай 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

I'm with DCU and Aligh credit union.

Navy Federal 😎

@PracticalPersonalFinance

2 жыл бұрын

Oh yeah!!!

Golden1 CU rocks!

Desert Financial in Phoenix

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.

Genesis Credit Union, Minnesota

Victoria Customs corporative credit union. VICCUL Cameroon 🇨🇲

What credit union do you recommend?

St.Louis community credit union

My choice is the Lake Michigan CU❤

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 KZread for advice.

How can I get the money from you credit union

Do credit unions accept anybody off the street?

I LUV MY CREDIT UNION.

"how sophisticated their mobile app is"....Life does not revolve around a mobile app kid, just say how well their online presence is....

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

❤❤

👏👏👏👍

APPLE FCU ❤️💯

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.

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.

Gain real money, God's currency, gold, silver, land and cattle (commodities that people need to survive).

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

Жыл бұрын

Y'all know eva Heather too!?!?

Why does this guy add an h to every s word he says. Shtop, shavings, shubscriber....