NEW YORK (9/11/15)--Personal finance columnist and MoneyTalksNews founder Stacy Johnson received a question this week from a reader about whether she should go to a credit union for a loan.

In his response, Johnson was unequivocal.

“I’ve been urging viewers to join credit unions since I started doing TV news 24 years ago,” Johnson wrote, adding, “when it comes to both saving and borrowing, credit unions are typically much better than banks.”

Johnson, who also listed CUNA’s aSmarterChoice.org as a place to find a convenient credit union, rounded out his response by listing the myriad reasons to join a credit union, including:

• Lower rates on loans. The National Credit Union Administration (NCUA) reports that the average rate on a 36-month car loan in June was 2.66% at credit unions, compared with 5.13% at bank;
   
• Higher savings rates. Rates for 10 different types of savings accounts, from five-year certificates of deposit to checking accounts, were higher at credit unions on average, compared with banks, according to the NCUA;
   
• Better deals on credit cards. The average interest rate on credit cards from credit unions came in at 11.64% as of June, compared with 12.71%, the NCUA said;
   
• Convenience. With shared branch networks and shared ATM networks, credit unions can be just as convenient if not more so than their banking counterparts; and
   
• Lower fees. Credit unions consistently charge lower or fewer fees than banks. Credit unions also offer free checking accounts at a rate nearly double that of banks.