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TriggerTough t1_j8xtkjw wrote

So why a credit union?

The funny thing is I have 9 guys managing my portfolio but some of them use credit unions and not BOA/Merrill where I'm invested at.

I should probably ask them but just wondering why you're going that route?

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midnight_thunder t1_j8y118f wrote

Credit unions are owned by the members (customers) of the credit union, and are not-for-profit. I’m a member of a credit union. I pay no fees for my bank accounts, and get (somewhat) not-insignificant dividends for both my checking and savings. Also, my mortgage is through the credit union, and was a MUCH better deal than any other banks in the area could provide (mortgage brokers regularly refer people to the credit union I use for refi’s). Also, they have pretty competitive CD promotions from time to time.

I will never go back to BoA.

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Pooped-Pants OP t1_j8y85w8 wrote

I’m looking to shop for better interest rates on loans. There’s no way a large bank is handing out prime rates unless you’re spending 20M+

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