MADISON, Wis. (7/25/14)--When ditching a big bank and all the charges and fees that come with it, a credit union can be a great alternative when picking a new financial institution, a recent article in Daily Finance said.
Fees tend to be significantly lower at a credit unions because they are cooperatively owned, not-for-profit organizations that exist only to serve members, explained Daily Finance's Carol Kopp.
"Historically, membership in a credit union is open to people with a common interest--members of a union, employees of a company or worshippers at the same place," Kopp said. "But many are open to an entire community."
To find a credit union when plotting your escape from a bank, the article suggests the National Credit Union Administration's credit union locator. Another option is www.asmarterchoice.org from the Credit Union National Association.