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I'm curious if this also applies to credit unions. I understand they are structured and regulated slightly differently but it seems like they're subject to a lo
by lantry 4y ago
I'm curious if this also applies to credit unions. I understand they are structured and regulated slightly differently but it seems like they're subject to a lot of the same pressures.
I use credit unions pretty much exclusively and have never done much business with a bank, but it seems like they are mostly the same from an end-user perspective. Is the anecdote about "being ambushed [by a salesperson] upon walking in" a common occurrence? This has luckily never happened for me at any credit union.
- kactus 4y agoI'm curious about this too, as I've only used credit unions and branchless banks. Credit union branches are plastered with loan and mortgage advertising, and the people who handle the loans are salespeople, but I've never been "ambushed" upon walking in.
- alistairSH 4y agoThe only time anything close has happened to me was years ago when I deposited a $40k check into savings. The teller went and got a manger who asked if I wanted to hear about investment options. I declined and that was it. Not an unreasonable question to ask somebody delisting a large sum of money.
- bombcar 4y agoCredit onions have another pressure - they’ve limited things that they can legally “do” with profits and one of the easiest is to reinvest in the branches, etc.