Credit Union or Bank Which Is Better?
You want to get the best deal on your savings or your next loan, everyone one does. Will you get a better deal at your local credit union or local bank? Credit Unions often have better rates as they are not for profit businesses, but that is not always the case. ING Orange Accounts are a great example of a FDIC insured bank offering great savings rates.
As the video below says many people spend more time searching for a deal on milk than on their credit cards and you can save good money by finding a rate that is a few percent lower. Remember though what seems to good to be true may just be that, to good to be true. Shop around, and read the fine print. Think about this when you are shopping, a 1/8th change in rate on a 30 year mortgage will change the payment on a $100,000 mortgage about $10 a month. If you want to shop rate on your mortgage, get a rate lock agreement in writing that is signed by your loan officer. That is the only document that can bind the mortgage company to any rate they are quoting you. Remember also rates change at least daily, so a rate from today can not be compared with a rate from yesterday.
