What is a credit union and are all credit unions associated with one another?
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You asked what a credit union is, but I will tell you why you should join one. I have been with my credit union for a little over 30 years. They have never charged me a fee for any service. Credit unions are not associated with all credit unions, but many of them share branches and have a network of ATMs from which you can get cash without a fee. I know that no longer seems very important, but sometimes you do still actually need cash. They often offer lower car loan rates so that you can pay off an existing car loan and save on interest.
I have never heard of a credit union cheating customers over and over again like Wells Fargo (although there must have been some who did on a small scale I never heard of). Finally, credit unions can be fairly localized, which means that while yours might not be the Bedford Falls Savings and Loan, it is not going to be an international mega-corporation.
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