Big Banks vs. Credit Unions

If you are unsure about whether or not to move your money from a big banks to a small, community bank and credit union, consider the statistics below from Consumer Reports:

Item / Fee	Big Banks	Credit Unions
Non-interest Checking (per month)	$10.27	$6.00
Minimum Balance to Waive Fees	$1,115.97	$500.00
Online Bill Payment (per month)	$6.95	$0.00
Use Another Bank's ATM (per transaction)	$2.21	$1.07
ATM Surcharge (per transaction)	$2.96	$2.79
Overdraft (per transaction)	$34.48	$27.82
Insufficient Funds (per transaction)	$34.48	$27.82
Stop Payment (per transaction)	$31.09	$19.43

To learn more:

• Javelin Research Reports Results About Bank Transfer Day
• Learn About Credit Unions. Free Workshops At A Nearby City
• Keeping Its Commitment To Its Customers: A Bank Does The Right Thing
• Bank of America Merchant Services And Money Network Announce New Payroll Solution
• How To File A Complaint About A Bank
• Move Your Money To... Walmart? A Good Deal?
• Some Banks Reverse Decisions To Add New Debit Card Fees

Comments

[adrianjill]

A very nice and shortened post to provide Quick review of the exact difference between credit union and big banks

[teena]

Credit unions are really better than big banks. These big banks charge very high charges; even credit unions charge just half charges for the same services. I really didn’t about these differences, but your blog post has good information about it.

[Peter]

These transaction charges are really very high and it is very difficult for a normal human to afford these charges. Minimum Balance to Waive Fees is really unexpected for me. These big players in banking industry are really doing wrong with people.