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Ok, but my credit unions all offer all those "other services" that I use without fees. Where is there room to compete with them on cost?
by chowells 3y ago
Ok, but my credit unions all offer all those "other services" that I use without fees. Where is there room to compete with them on cost?
- Scoundreller 3y agoSometimes $0 is too high of a price and they could be paying you. (Your CU probably pays you indirectly. Mine gives me a $5 share yearly just for existing and I don’t generate any direct fees). Kinda like how stock brokers should be paying you to have your stocks on deposit with them because they make money loaning them out to others. Which is partly how “neo”-brokers could zero out trading commissions. Lending out meme stocks to short sellers is especially profitable.
- creer 3y agoIf this is true, you are very lucky with your credit union. One of my traditional banks basically uses tech to try and convince me to switch away from them at every interaction. They are amazing. I'm sure that's also an extreme but the whole range exists.