What to look for in credit union checking

Checking » Credit Union » What To Look For In Credit Union Checking

Check for stability
6 of 10
Check for stability

As a whole, credit unions have shown more stability than banks, says McClary.

"Even though, in general, credit unions are smaller than banks, stability is not relevant to size," McClary says.

Credit unions have a stronger relationship with their customers, which makes a good case for credit unions staying in business.

Ask how long your credit union has been up and running and how it manages investments, and verify that it is growing responsibly.

"Measured growth is a sign of stability and profitability," says McClary. "They shouldn't be branching out so quickly that they can't effectively service the customers they have."


Show Bankrate's community sharing policy
          Connect with us

Learn the latest trends that will help grow your portfolio, plus tips on investing strategies. Delivered weekly.



Claes Bell

Are ‘pop-up’ bank branches the future?

Imagine a food truck, but instead of Korean tacos or barbecue sliders, the truck dispenses cash and financial services. Sure, the latter isn't as tasty, but banks seem to be leaning increasingly toward so-called "pop-up branches" as a way to serve customers while still reducing their brick-and-mortar branch footprint -- and costs. Bank of America  ... Read more

Partner Center

Connect with us