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Optimal Finance Daily - Financial Independence and Money Advice

2297: Credit Unions vs. Banks by Daniella of I Like to Dabble

Optimal Finance Daily - Financial Independence and Money Advice

Optimal Living Daily LLC

Investing, Business, Education, Self-improvement

4.41.3K Ratings

🗓️ 6 May 2023

⏱️ 10 minutes

🧾️ Download transcript

Summary

Daniella of I Like to Dabble compares credit unions and banks Episode 2297: Credit Unions vs. Banks by Daniella of I Like to Dabble Daniella is a software engineer and sidepreneur who has gone from 0 to 12 income streams in 4 years, paid off over $40k of debt in the process, and moved 2100 miles cross country with her wife Alexandra to live in their dream location. Prior to that, she was going through back-to-back layoffs, had no savings, and was living paycheck to paycheck. Now, she teaches thousands of others how to start and grow their own side hustles and businesses, get their money right, find remote work that aligns with what they really want to do, and live their best life. The original post is located here: https://iliketodabble.com/credit-unions-vs-banks/ Visit Me Online at OLDPodcast.com Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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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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