Staying with bank vs. transferring to credit union?

[Deus Machina]

So I've been with Chase for a long time, ever since Wachovia screwed with me too often. Been happy with free checking, they've been alright to me.
But now I'm moving into a county job. And I'm eligible for Florida West Coast Credit Union.
They try to sell it like it's a whole lot better than a bank, but don't really explain why. Would a credit union really be that much better?

[Paintslinger16]

I love credit unions, I belong to at least three. You can most times, just have way better rates on car loans even personal loans with no collateral. The lines have blurred with banks from when I first belonged to my locked credit union tied to my union job.
They used to have things like a spring motorcycle season loan special or snowmobile rate in the fall.
I forgot to add, members own it, so they are not purely about profit.

[maggot]

Generally lower fees, less BS. Very happy I switched from US Bank 5yrs ago. It's a pain, but pays in the long run.

[sniper97]

My take is a local community bank. Some credit unions are very limited on products or don't provide good service. I work for a local community bank and have no issues going up against a credit union on products and my service blows them out of the water. Maybe there are some good credit unions out there?

[flyweightnate]

I got a car refinanced through a CU to get a lower rate. It was lower. Also, I want close my account now that my car is paid off, and haven't been able to reach them to withdraw my $5 savings and close out for over two years. To be fair, I gave up after the first dozen attempts.

So if you go to a CU, go local, so you can at least wait in line in person.

[Shaftski]

We use a local community bank for most of our accounts, but my wife still has her old credit union checking acct.

I like the community bank model. I like that I can meet with the guy who did our mortgage way back when at any time. He's working on some paperwork for us on a loan right now actually.

All you can really do is just shop and compare and see what works best for your situation. Each type of bank has it's good and bad players out there. Ask as many locals as you can about their local banks or CU and what they like/hate.

[Axel]

I like local. When I was a kid, we had four or five options in my area, institutions with names like "First National Bank of Greencastle" and "Chambersburg Trust", but they are mostly gone now, succumbing to one acquisition or another. If I want to stay local, the credit unions are all that's left

[Chuck E Ducky]

My local credit unions were crazy with the fees. They have better rates on savings accounts that’s about it. I do keep my savings at a local one. I did go threw the credit union for a construction loan better rates and my National bank would not offer them. But I’m not going to get charged a fee to keep my money in the bank when I add and withdraw. I got a pretty good deal with my national bank after having my account bought out several times and transferred while still keeping my original deal I had with HSBC. As long as I keep enough money in the bank they don’t charge me for just about anything. Even get a reimbursement for ATM fees and rewards that add up to real cash.