What should I be looking for in local credit unions?

I am looking at local credit unions in my area, and I am looking at the “Rates”. As a first time banker can anyone help me brake down what I am supposed to looking for in terms of good bank rates or bad rates. If you can supply a website that would help me understand things better I would be grateful.

By | 2013-08-26T19:21:02+00:00 August 26th, 2013|Mortgages Home Loans Interest Rate|2 Comments

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2 Comments

  1. ALL August 26, 2013 at 8:35 PM - Reply

    Depends on what you want from a bank or credit union.

    Will you be leaving money in savings? Then look for high rate savings account.
    Will you be putting money in Certificates of Deposit, then look for good CD rates.
    Do you just want a checking account? Then look for an account with low minimum balance requirements and no fees with a free ATM card, bill pay or whatever features you want.

    Will you need a car or personal or other loan? Then look for low loan rates.

    Also, keep in mind that you can’t just join any credit union. You have to be able to qualify. Usually by your employer, but there are other ways also.

  2. Talk Turkey August 26, 2013 at 8:19 PM - Reply

    I guess you are looking for savings rates.
    If you can find 1% interest at any bank, take it.

    You can google any credit union, click on savings, and they will have posted their current savings interest rates. If not posted, you call them.

    I think you are confused about savings accounts and interest rates.
    If you have questions, just ask and people will help you.

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