Credit card unions and banks are both different in how they both make money and because it suits you better and suits your situation differently. For example, my 22-year-old knee is not the only knee. I will get it when I am 55 or 65 years old. That’s why I want to break down all the details when it comes to a credit union and a bank. Get to know me My name is Honey Bryce I am an accountant and I have been in personal finance for the past four years. I’m starting to see a lot of people bragging about them and quite honestly how they think credit unions are on demand. Oh my God I have a credit union.
It will benefit you from anything you can really invest in.It will be useful for you. I will post it on the channel, so make sure you subscribe and click on the notifications and let me know if you have a bank or credit unit in the comments below. Tell me why and what you should respond to the same comments you made at the end of the video, and as you know this video actually after learning this you may want to get a bank rather than lend me and I personally still have me and my friends I have my bank and let you know why at the end of the . If you know Tommy has a bank you can tell for sure. Then it should be a better choice but in reality it may not be so and it may not be so. So let’s go into it now to make sure you stick to it now.
We all know how banks work and how they make money? They want to double that money and I personally don’t care about boys who are so honest. Because I know how to do business. I know they have to make money. So I have to make a profit.Glad, I can see that I’m fine with that as long as they care about customers, but this time they will not and you may be thinking about Tommy. The fact that the customer is still well in the bank is a product of the credit union you own and may confuse him but let me explain to you that a credit unit is actually a non-profit organization.
They charge you a lot of money and here they charge only a flat fee for those features that I have paid twice to maintain the business fee staff and cover everything else but in this case the difference between a bank loan unit is a. Evidence that a bank is a non-profit business means that you know that a bank wants to make more money and that you are a product and therefore they need to constantly expand your capital and make more money but it is different for a unit of credit Perspective does not make money, but what they really want to do is make sure they care about you.
But before you move on like Tommy, it looks very clear. Sticking to it is not really everything, but I want to make sure that every time you deposit money into our credit union they understand one thing. The whole company but when you do it with a bank and at the end of the year their credit union makes a big profit then they all have the right amount of money after they have paid well they have what they do distribute that money around you, of course you have savings accounts Improving and lowering loan rates can be known but what a bank does is like oh my god we make more money.
More e and more money they really care about making more money If you didn’t care so much about what I borrowed How could we save more money for the customer and actually make more money for the customer if we made more money? For both of these businesses but what I don’t want is for you to actually fall into this field. Oh my God, you know they care about the customer you care about. You are greedy banks about these banks. Banks that think you are bad I do not want you customers to fall into that loop. Please talk about my Ghosh social awareness, I will not mention any name but Aspiration Bank I said I should mention any name. But here I am referring to the name of the aspiration bank.
They say oh gosh you know we donate money we know we do this but when you call and you actually check customer service it is not the best customer service and it is not great.Well, I want to make it clear, so I don’t care what they do or what they do. The money I care about is the fees and how it benefits us customers and if so it really makes sense to us the only thing that matters most to us. And those of you who have heard me say goodbye Tommy I like a bank because you know that my money is FDIC insured so I say ‘I have always protected and I will tell you that it is not a valid reason.
Because if you have your money in a credit union, there is no big difference in security as it is also insured by the government. ‘ Both are insured so if you have up to $ 250,000 you are one hundred percent safe. If you have more than that I recommend you know different bank accounts so you can spread it and then you are completely safe, so let’s talk about the major changes in the business Here is something I have never seen before and when it becomes transparent Transparency I mean by this I tell you very honestly that you know when a company is transparent. Honest and everything is great, because they are honest I never saw this, but when I go to a credit union website it is different than when I go to the bank please.
You know what I mean by acting like I understand what they say, yes yes I got it I got it yes , they gave me this contract in 80,000 words. I look like yes. But I can not even understand the first page and it happens with a lot of people quite honestly. But in my case I kindly know the language I know the terms I know how to project myself around the whole contract but in most cases people already have a big premise .
You do not know how to really explain it and really know what is written inside. Here when you go to a credit union website it is completely different, it is very simple, it is set up in a very different way and the main reason is because you are not a product of the owner and the guys every time you are in a credit union. They care about making sure you care about making money and contributing to the money-talking eyes of your customers to benefit me I can keep going up and up but what is a bag? Exactly how do we get the most money out of Tommy? How to make the most money from Lily Billy? Credit unions are different in that way we can actually get money from them for fees or whatever, investors can be happy with anything like loans and honestly guys I did research banks and credit unions more and more I understood both of them It’s the same and you tell Tommy that you’re talking about transparency.
You will see that they have more resource dust and they can actually give you many more things and bonuses to make money from you. But if you know what you are doing you can make money from them for example they can give you credit card bonuses it can give you big gifts like credit unions and you have seen credit cards and credit cards and they are great like 1% refund No and it’s not that good but I guess for customer service.
Everything else you get may be worth it to most people but I said I should make sure to break everything down because everyone is different. In my case I care about the rewards and I really care about the savings account for what I do is really high or the like, because there are so many options for these products and here guys I did a lot of research and found the truth Really three argues that when you compare a bank and a credit union it goes down and basically evaluates customer service and convenience and quite honestly guys it’s pretty much the same. Someone is here and this person is like this, but this guy is something here and this guy is something here is always basically the same as it competes, so when I mean it right it is for credit Credit Mortgage Credit Cards are just like any other competitive or competitive account.
Now the banks fall into the trash like you know savings but they have good mortgage rates and when it comes to a credit unit they actually have the same high David accounts but their mortgage rates may not be lower than a real bank credit card credit card and the bank side They are in the credit service because they have a large amount of resources for, but they are not so good when it comes to customer service on the credit union side. The customer service on the credit union side is better. The reason for this is that morally they are not so concerned about getting money from you or actually selling your product that they will not benefit from it and they will actually benefit by making sure that you are well.
They are in a credit union and they are all owners in some way but when you call the customer service from the bank side they are always trying to make sure that they can get the money from you or that they can avoid some kind of fee. Guys I never had a bad experience with my bank and I banked with Chase.
I’m unhappy that Chase does not have the features needed to make these online banks. Bad experience they do a great job in customer service but I know this if you do not qualify for this. If you do not know what you are talking about, they will probably give you an advantage. I’m like when I talk about it, it’s not true, here’s how it works, but banks will always try to sell you something, because they make money like those credit unions only care about you, it’s all about customer service And it’s great. For convenience I am listening to this one argument please I know you know that they do not have a large number of branches as they cannot have a credit union.
My concern is to bring it down from my branch block. I get it I get it but the key here is we have internet banking and believe it or not there is a lot of technology behind credit unions and quite honest guys I have never seen before but I went to a credit union website today. Of course there was a similar side with an app to help them is that your kids will get a handle on their financial future which I have never heard of and they have a lot of technology when it comes to banking. So it’s not about my gosh. I do not like to withdraw money and do not deposit money the way I transferred my zip code. Of these, I have over 90,000 ATMs that I can access at any time. You may want to visit as many of these credit unions have partnerships with each other.
One and the other can deposit your money and they are all friendly. So the only thing banks have in common with banks is that you have a partnership with banks and you can deposit money. Okay, but when you think about it they all come down to one thing and that’s all you need and what you really qualify for and what suits you best but before I move on Guys, break it down a little more I want to make sure you really understand what you are saying and let me know in the comments below what a credit union is now compared to a bank and what information you really think is better for you now I wait three seconds.
Two Can’t Trust You Guys I can’t wait three seconds it’s too long, so let’s continue the video now, so I think what are my final thoughts on credit unions and banks and everyone here looking at the wrong comments below Guys tell me my credit unions tell me what you think What do you think when you think? What I really care about is the only thing our people don’t really talk about and if you do not know that it is internet banking then internet banking here he is a bank he is a credit union here online bank why is it in the middle of it? Everything is good it is from my bank and they have put together everything I get from my credit union and at the moment we only have investment accounts which are savings accounts and some of them even have loans.
I may not have the best competition when it comes to savings accounts compared to a credit union but for example if I have a bank I may not have good competition but if I have an online bank it looks straightforward but I have a credit union account and all the ATMs you have Machines and not all the branches you have but if I have an online bank I have free access to all the ATMs in the world. I have always loved to run a very good system but one thing I want to mention is that you know about internet banking. They have no mortgage now, they have no other products like credit cards and stuff like that but oh before I forget you guys write credit card on both sides remember like I said before when you say you know credit cards here they have a lot of bonuses and other prizes But on the other hand the fees with credit unions are very low apic pre on those credit cards.
I start with credit card rates ranging from 8 to 13 percent to 15 to 30 percent. It’s very different. Hey, we’re lending you money to get a low loan. We are not trying to deceive you about that. But here are my prediction guys I really believe it will take about a decade in the future because these things are happening so you can quote me this time save this video Download it Anything you need to comment below and say ok here today The sentence he has already said and I believe that what happened next year or the next decade or so will be similar to the next decade or so of online banking new banks.
I am sure you know that the big banks are going to buy the bank online, or they will become their own companies, why do they do online banking? There are no fees, they have very competitive rates and as soon as you start entering the credit business and credit card business the ads on those currencies will actually explode more and more Millennials especially they will start registering and registering and registering because Millennials Especially since honest people are not trying to take advantage and in reality only like the banks because they like to dominate the game at the moment they like. Online banking, at this point you may be wondering about Tommy, so you may like online banks, but you also like banks and you also like credit unions You can sign up for a credit union or whatever you have to sign up for the bank.
Something online banking is tied to? Deal I have a bank with Chase and so far I am thinking of getting an online bank, but at the moment I do not want to save a large amount of my money as I am constantly investing my remaining money so I would like to get regular returns from my money but here is the deal I want to get a credit union but I can not get a credit union because I do not qualify for it and the reason here is right and I will save this till the end Make sure you get this information This is actually a loan unit for virtually every person It’s unique in that it’s inaccessible, not because they want to do it, but because it’s a policy and you can maintain that non – profit identity in accordance with government and regulations.
By this I mean something called the membership sector and this means that every person who joins a credit union must have some kind of bond. It’s the only community in Oak, no matter what the church is. But you have to be part of a small community, then you can really invest but I personally guys I can not join my job because I do not have a permanent job. Now you are one of the top officials there. Can’t even be. I can’t qualify with anything of my own. If your mother is inside there is another way you can actually get involved with anything you can actually get into but in my case I can’t get involved with it. In your case you have a permanent job Do you want to join a credit union? Or do you want to go with a bank? This is my deal on this right.
I think if you want to get a mortgage for a house then obviously banks are having a very hot competition right now. I ran very slow but I think if you want to save money I think you should go with a credit unit and I think you should go with both if you are smart so I always think about both and if you are really talented at this point You may want to go with all three banks online banking and credit union. You have to decide for yourself exactly what you want. I know I am best suited for you. I know many of them are loyal through these companies. My God I have been with my bank for 20 years. Letting go is my thing and I want all of this. Not every other bank thinks like you. They did not pay you anything.