Credit Unions Offer Better Deals Than Banks For Some Atlanta Customers
If you're tired of the fees your bank is tacking on to your checking account, how about forgoing the bank altogether?
Don't worry, I'm not advocating that you store your paycheck under the mattress - I'm talking about considering a credit union. As banks make simple checking accounts more expensive with things like account maintenance fees, balance transfer fees, minimum deposits and other annoyances, cash-strapped customers are looking for alternatives, say Atlanta bankruptcy attorneys. And with lower rate credit cards and certain loans, a credit union might be just the solution.
Unlike banks, credit unions are considered nonprofits - meaning they get a tax break from Uncle Sam that they can pass on to you. Though many folks worry they won't qualify for a credit union, memberships have become more lenient than ever. You'll still need to have a "common bond" with the organization, but nowadays that can be achieved by simply living in the same region, performing the same sort of career or even paying a small fee - say, $20 - to join an association that already has a credit union membership.
Not surprisingly, banks aren't too happy about this recent evolution - especially as a few credit unions grow large enough to resemble banks themselves. In the long run, who's to say credit unions will continue offering the same good deals. But for now, what's the harm in taking advantage of them? Find out if a credit union is right for you by performing online research or visiting or calling your local branches. Think you'd feel more comfortable with a regular bank? Online banks often offer better rates than their traditional brick-and-mortar counterparts.
You deserve an affordable place to store your hard-earned dollars. If you're barely making the bills, a slightly lower interest rate on that credit card or loan could be the difference between scraping by and sinking deeper into debt. Of course, if you really want to free yourself from stress over bills, you need to reduce your debt. Worried you can't do it alone? Bankruptcy can make lowering debt affordable. Find out how bankruptcy can help your financial situation with a free personal debt analysis courtesy of an Atlanta bankruptcy attorney.