All the downsides that apply to normal banks really. Credit Unions are slightly more member/customer friendly, perhaps less punitive fees and rates, but they exist within a capitalist framework & function as capitalist entities.
Looking into a local credit union a while ago and the biggest downside was that it seemed like most ATM's wouldn't play nice with them.
Could keep most of your cash savings and things like certificates of deposit (had way better rates than non Credit Union options) in the Credit Union and have a small checking account you keep fed from the Credit Union account so that you can have a cash card that works in more places.
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Are there any downsides to using a credit union instead?
All the downsides that apply to normal banks really. Credit Unions are slightly more member/customer friendly, perhaps less punitive fees and rates, but they exist within a capitalist framework & function as capitalist entities.
Somebody check me if i went too ultra.
Looking into a local credit union a while ago and the biggest downside was that it seemed like most ATM's wouldn't play nice with them.
Could keep most of your cash savings and things like certificates of deposit (had way better rates than non Credit Union options) in the Credit Union and have a small checking account you keep fed from the Credit Union account so that you can have a cash card that works in more places.
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