Tip 77: "Bank" at a credit union rather than a bank
The fees and interest rates are typically lower at credit unions than at a bank, and you get all of the same benefits as FDIC protection for your deposits (credit unions insured by NCUA which is comparable for FDIC). I recently did a comparison of interest rates on deposit accounts and rates and fees charged on loans between my credit union and a local bank. My credit union won across the board.
What is a credit union? A credit union is a non-profit organization that provides financial services to its members. I like the idea that my credit union is not trying to get money from me. Check out credit unions that are at convenient locations in your area and compare their rates and services with your bank. You may find a better deal at a credit union that can save you money on interest and fees.
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