It’s Called Competition
I was driving on Friday and my credit union had an ad on the radio, which isn’t unusual. They have run ads for their car loans for years. But this ad was different, it was all about the fees they don’t charge.
For a local credit union to pick up on the whole ‘Move Your Money’ movement and start running ads, shows that the credit unions see an opportunity and are taking it. You aren’t going to get wealthy on the interest they pay, but they do pay interest, even on your ‘checking account’, rather than charging you to use your own money, and your deposits are insured to the same limit as banks.
