Save on fees at employer credit unions
Do you work for a big company such as IBM or American Airlines?
If so, then you're in luck. By joining company credit unions, you can save money on banking fees. They offer core services such as savings accounts, auto loans and checking accounts. And some credit unions are branching out to community members to become an alternative to banks.
One example is California-based Alliance Credit Union. It acts as a credit union for 400-plus companies, but also serves some areas of California and North Carolina.
Valuable benefits come with membership. One is helping you repay loans by deducting money from your company paycheck to repay loans or save more efficiently, says Pat Keefe, spokesman for the Credit Union National Association in Washington, D.C.
On the downside, company credit unions may not have a regular banking schedule, such as weekend hours.