Re:Why it costs so much to be poor in America
by PostOnce on Friday January 26, 2018 @12:12AM
(#16237168)
My credit union was charging me between $10-20 (cant remember) per day for a 30 cent overdraft ... for a month, and never contacted me or emailed or anything to let me know my account was being perpetually driven further into debt. Not too sure about all this credit union fanaticism I hear about since that incident.
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Re:Why it costs so much to be poor in America
by dragonwriter on Friday January 26, 2018 @12:27AM
(#16237213)
There are presumably credit unions that suck (and yours sounds like it was one), but overall credit unions are generally superior in customer orientation to banks simply because they don't have a structural conflict between delivering customer value and serving shareholder interests.
While the common interest requirements for credit unions have been weakened, the best credit unions are probably ones that still are attached to a strong community of common interest.
Re:Why it costs so much to be poor in America
by kaycebasques on Friday January 26, 2018 @01:27PM
(#16241573)
> overall credit unions are generally superior in customer orientation to banks simply because they don't have a structural conflict between delivering customer value and serving shareholder interests
Can you elaborate on the difference? I.e. why credit union incentives are different than big banks.
Re:Why it costs so much to be poor in America
by dllthomas on Sunday January 28, 2018 @01:52PM
(#16252699)
https://en.wikipedia.org/wiki/Credit_union
> A credit union is a member-owned financial cooperative, democratically controlled by its members[.]