4.4 • 1.3K Ratings
🗓️ 6 May 2023
⏱️ 10 minutes
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0:00.0 | This is Optimal Finance Daily, Episode 2297, Credit Unions vs. Banks, by Daniela of |
0:07.4 | iLikeToDouble.com, and I'm your host and personal finance enthusiast, Diana Mariam. |
0:13.5 | Welcome back to Optimal Finance Daily, where I read to you each and every day from some |
0:17.8 | of the world's best personal finance blogs. |
0:20.8 | So with that, let's get right to today's article as we optimize your life. |
0:29.2 | Credit Unions vs. Banks, by Daniela of iLikeToDouble.com. |
0:35.0 | Everyone needs a place to store their money. |
0:37.7 | Make sure you choose a trusted financial institution when considering where to stash your cash, |
0:43.3 | either a credit union or a bank. |
0:45.2 | But what's the difference between those two and which one is best for you? |
0:49.7 | Could one be cheaper than the other for you in the long run? |
0:52.9 | Does having a branch location matter to you? |
0:55.7 | Do you care that your fees are going towards a community of members or for a bank to just |
1:00.0 | make more money? |
1:01.8 | Whether you're looking around for the first time or you're a seasoned veteran looking |
1:05.3 | to open another account, you'll want to know the difference between a bank and a credit |
1:09.5 | union before you make your decision. |
1:12.4 | What is a credit union? |
1:14.5 | A credit union is a trusted financial institution that's not for profit and run by their members. |
1:20.4 | More than 118 million Americans hold 1.4 trillion in assets across 5700 credit unions in |
1:26.8 | America, according to a 2019 report from the Credit Union National Association. |
1:32.5 | The average credit union is about half the size of the average bank, they're smaller |
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