MADISON, Wis. (7/18/14)--Daman Davila, a staff writer reporting for Wise Bread, a community of bloggers that helps consumers "live large on a small budget," offered "9 Good Reasons to Choose a Credit Union Instead of a Bank" in a recent post.
Davila shared his personal experience. "I am huge believer in credit unions," he wrote. "When I first arrived to the U.S., I only had my savings and my dreams of completing an MBA degree. As an immigrant I didn't have a credit history or a U.S. bank account. This meant that many big names in banking were hesitant to give me a chance. This made qualifying for a credit card or becoming eligible for a car loan very challenging. Thanks to a local credit union, I was not only able to achieve these milestones, but also build my credit history and become financially independent."
Here are the reasons Davila cited to choose a credit union instead of a bank: