Banks versus Credit Unions

Credit unions may be an attractive alternative to Banks. They generally have lower loan rates and tend to pay higher interest on savings. Why? They are non-profit organization whose goal it is to help members. Banks on the other hand are decidedly for-profit entities. They use your money to make money. That said, intrest charges and interest paid on savings can change from day to day. Check out offers from local banks and local credit unions. Some credit unions require members to belong to certain organizations while others are more relaxed about who can join. Check you phone book or do an online search for credit unions in your area then check to see who offers the best rates.