 How can I keep myself from spending money so I can save up for a car? |
| im 17 and just graduated from high school, I just started my first job and plan to save for a car so I can go to college next year but I have a shoe fetish and I cant help myslef from buying new ... |
|
 How to make money at the age 13? |
| I am 13 years old. I ask my parents everyday for money, and I feel bad. Thats why I want my own job, so I can have my own money. I dont want to do outside work like mowing the lawn and stuff.......... |
|
 Where can I find someone loan me $400,000 and I will pay it back $415,000 within 10 months? |
| Please don't be alarm by this. I will use my house for colateral. My house appraise at $527,000.... |
|
 What happens when you file for bankruptcy? |
Additional Details
Is it true that if you do file for bankruptcy they will come and take your stuff?... |
|
 How can i get rich!!! easy and fast.? |
with out get an outograhf from some one...
just get income like nothing seen before...
... |
|
 How should I use my money? |
| What should you do with 5-20K? Invest? Savings Account? Burried in Back yard?... |
|
 How can I stop myself spending money? |
| I keep buying things, things I don't need, and expensive versions of things I do. I need to stop but I keep making plans to, putting my debit card away nad only taking out a certain amount but ... |
|
 Does everyone have money problems? |
| my dad keeps saying that everyone is having money problems and that we are too. but i want a whole bunch of stuff like clothes and stuff. it doesn't seem like people at my school have problems ... |
|
 How can a 12 year old make money? |
AND I DON"T mean like mowing the lawn or Babysitting or stupid lemonade stand I mean like a real job and real money, A pay check
Additional Details
THIS SUCKS!!... |
|
 What is the most easy way you can make money? |
| not including doing chores and nothing that involves too much ... |
|
 If you were given $5million. What would you do? |
| You're not supposed to donate to religions organizations. And you do not have to pay tax on the amount. You do not have to pay tax on this amount. And you do not have to return. No living off ... |
|
 Would you consider this person rich? |
Would you consider a person who makes $425,000 a year rich?
P.S.-They live in Mississippi and r single n dont have kids.... |
|
 What's the best way to get out of debt without filling bankruptcy? |
| I am working a second job and have cut back on my spending but it just seems like its not working.... |
|
 Am I wrong? |
| Ok my boyfriend takes my cell phone to work with him 5 days a week from 7 to 4. And my cell phone bill was really high. I asked him if he could help me pay a little of it and he said no its my ... |
|
 If you had 1 million bucks, what would u spend it on? |
Say you won the lottery, what would u do with the money?
Additional Details
With the lottery these days being like 32 million, you'd have a lot more to spend!... |
|
|  |
shortbrenz | What is the difference between a credit union and a bank, and which one do you benefit from and how? |
|
 |
 
suzie D
 |
The Credit Union Difference
Credit Unions For-Profit Banks
Mission
Credit unions are not-for-profit financial cooperatives that conduct business for the mutual benefit and general welfare of their member-owners. Banks are for-profit financial corporations who conduct business to maximize the price of its stock and profit for stockholders.
Philosophy Credit unions promote thrift, savings and sound credit use to improve member’s lives. Banks focus on what generates profit for the Bank.
Community Most credit unions are locally run as membership consists of specific people from employers, churches, schools or communities. Most banks are rarely locally run. Community banks are frequently sold to larger banks whose home office is seldom in the local community.
Ownership Every member is an equal owner. People who purchase stock are the owners. These stockholders expect a return on their investment.
Leadership Boards of Directors are elected by members. Directors are volunteers, and are not paid. Credit union elections are held with each member getting a single vote. Boards of Directors are elected by the stockholders. Directors are paid and legally bound to make decisions that benefit the stockholders, not the customer. Customers don’t have voting rights and have no authority in the overall governance of their bank.
Federal Deposit Insurance Insured by the National Credit Union Share Insurance Fund (NCUSIF), a Federal government agency. Insured by the Federal Deposit Insurance Corp. (FDIC), a Federal government agency.
Taxation Credit unions are exempt from corporate income tax because they are not-for-profit cooperatives that return earnings back to members in the form of lower loan rates and higher deposit rates. Credit unions pay property, county, school, municipal, and employer taxes. Banks are taxed because they are designed as profit-making corporations. When they disburse profits, it is only to their stockholders. |
|
mickeyg1958
|
A credit union is "owned" by its members, whereby a bank is all about lots of profit and bonuses for the big cheese in suits.
A credit union will typically have much better rates on loans and such. I am in the process of switching to one from Chase bank right now. |
|
Lore
|
Credit union:Not for profit financial cooperative. Conducts business for mutual benefit and general welfare of members/owners. They promote thrift, savings, sound credit use to improve members lives. Every member is an equal owner C.U's are exempt from corporate income tax cause they are non for profit cooperatives that return earnings back to the members in form of lower loan rates/higher deposit rates C.U.'s pay property, county, municipal, employer taxes. Insured by NCUSIF, a federal gov. agency.
BANKS: for profit financial corporations, Maximizes the price of its stock/profit for stockholders only. Their interest to generate profit for the bank. Most community banks are sold to larger banks whose home office is seldom in the community. Board of Directors are paid and legally bound to make decisions that benefit the stockholder, not the customers. Banks are designed for making profits, when they disburse profits it only goes to the stockholder. They are insured byFIDC. |
|
bigmannyphantom
 |
You will benefit well from a credit union rather than a bank you get easier financing at cheaper rates basically they manage your credit, If you have some one in your family that a Veteran get them to sign you up with the V.A. Credit union that's what I'm going to do through my peoples actually ,every thing will be much easier to get loans and stuff after the first year on cars and homes at a discounted rate cause of veteran affairs. |
|
Linda
|
Credit Unions are more customer friendly, they have far fewer fees attatched to their services and they don't (as a normal rule of thumb) charge for over the counter service where banks charge you for using their ATM machines and their in bank teller staff. Credit Unions have lower interest rates due to the fact that they have fewer overhead costs to cover where the banks in the main stream charge customers like wounded bulls. Check it out. If your in Australia check out the Police Credit Union (fantastic all over rates) and you no longer need to be in the force or a family member of someone who is to open an account. You also have Bendigo Bank, ME Credit Union..........I hope this helps. :) |
|
halfshaft
|
Credit unions are also non-profit, which is another reason that their lending rates tend to be lower, and interest rates paid on accounts tend to be higher than commercial banks.
I have been a member of a credit union for 12 years, and would never think of going back to a commercial bank unless absolutely necessary.
Better service and better rates. |
|
old lady
 |
A credit union is owned by its members. When the credit union makes money, the members get bonus payments. Members can arrange loans for worthwhile purposes (starting business, school expenses, medical bills etc) much more easily because they have a vested interest in the credit union.
A bank is a commercial enterprise, whose sole purpose is making money. But they are making it FROM you and FOR the corporation who owns the bank. Interest rates are higher at a bank, mortgage rates are higher at a bank, service fees are higher at a bank.
Are you getting the picture?
The really nice thing about credit unions is that you, as a member, have the opportunity to vote on policy. You can support environmental issues, you can support local neighborhood initiatives, you can support a favorite charity. Whatever the membership wants is what the credit union does.
Try that with a bank! |
|
Sam X9
 |
Credit union banks are owned and managed by its legitimate members. They offered better services to their members as well as their clients, to improve and develop their own institution. Private banks are either owned and managed by a corporation (stock holders) and run by a team of employees hired by them. Like any ordinary banks in the industry, they offered standard services to their clients. |
|
kwing-kwang
|
In terms of LOAN (any kinds of loan) - I prefer CREDIT UNION = it gives low interest compared BANK LOANS -- SurCharges are very high if you fail to pay on-time.. |
|
swanjarvi
|
Credit Unions offer better rates of interest on your deposit than do Banks: but, some credit unions may not be as stable as banks, so you'll have to select carefully and monitor constantly for opening and maintaining acc.'s. In other words, Banks may be safer (in most countries). |
|
banananose_89117
|
A bank is open to anyone. The person is charged for all the services unless they have an account type that requires a minimum balance. The interest, if any, on the checking and/or savings is very low.
A credit union is a membership program, usually open to specific groups or organizations. Members buy shares with their deposits. They offer some of the same services as banks but not CD or IRA. The interest is significantly higher.
Usually people deposit money each paycheck directly into the credit union, which could be the entire or part of their paycheck. While if you deposit your paycheck into your checking account, it is the entire amount.
Banks are insured by FDIC where Credit Unions have a different insurance policy. Banks are there to make profit on the loans. At a credit union they make profits but those are given back to the members in a form of lower loan rates and dividends.
Both are good financial institutions. And you can have both! |
|
kayakblack
|
Banks are all about profit they charge for all of there services. Credit unions are usually exclusive to certain trades or unions. you have to be a member. You get better service as a rule and the don't charge for ATMs on line banking. My credit union only charges for money orders. It is easier to get a loan from a credit union. And since they are not motivated by profit i think i can trust them better. |
|
LORD Z
|
Credit unions offer you better interest rates and easier loan access. Banks are better insured and offer you more investment options. |
|
dukefan86
|
Good definitions have already been given. Some differences/benefits I've noticed include:
1) More ATMs and branches for my bank, so my bank money is more accessible to me
2) Online banking has been slow to come for credit unions, but is getting better
3) My credit unions often some extra perks, like discount tickets for the state fair and some area tourist spots.
4) I feel more comfortable having more savings accounts for specific savings purposes at the credit union. Opening deposit requirements are lower. Plus, since there are fewer brances and ATMs for the credit union, it's that much easier to save.
5) Customer services is generally a little better at the credit union. |
|
You are loved
|
You'd get benefits at a credit union, they provide a larger variety of services at no charge, unlike the banks, they can offer you the best rates on mortgage and auto loans, they are able to grant more, even personal loans, some services are free of charge and they look out for you, banks are the opposite, you are much better off joining your credit union as opposed to any regular bank, you'll benefit a lot more and get the best out of them.
Bottom line you save a lot of money. |
|
Lucy E
|
There are many significant differences between credit unions to banks. Credit unions promote the financial well-being of members, including those of modest means, through a system that is cooperative, member-owned, volunteer directed and not-for-profit. Unlike banks, credit unions exist solely to serve their members, not to pay high dividends to an outside group of stockholders. Credit union income is returned to members and that's why credit unions can offer higher interest rates on deposits and lower rates on loans. |
|
sommer
 |
At a credit union you are an owner. Credit Unions are member owned.
You can even run for the board of directors at an annual meeting. All directors are volunteers. Call your credit union for more details
Also, belonging to a credit union you will have the opportunity to earn higher deposit rates and also enjoy lower loan rates. All credit unions are not-for-profit. I have enjoyed being a credit union member for over 20 years. I am happy that I joined. |
|
theophilus
 |
To become a member of a Credit Union, you have to purchase a share, and the fees vary from $5.00 up, depending on the CU. It is a members only institution, unlike a bank, and is run by a board of directors who are elected by the members. There is an AGM annually. The CUs are a lot easier to deal with in terms of financing, LOCs, mortgages and car loans to name a few. |
|
swingle23
|
credit union is with stocks and you can own it
bank is owner base |
|
Wayne A
 |
A credit union usually is not for profit. . so they don't soak you with all kinds of fees to take your hard-earned money.
I think a credit union is the best all around, and I, too, am in the process of switching from citibank to Lockheed Federal credit union. |
|
hrwwtp
|
A Credit Union is owned by it's members. Your savings is usually called a "Share account", the higher the total, the more shares.
They are usually smaller and easier to deal with. With fewer fees, however this is not a rule.
Over all for an individual a credit union is a good choice, but it always pays to shop around. |
|
Just_gone
|
The differences are blurred now. At one time, a credit union was a very local financial business, where people deposited their savings, and local businesses too, and the manager, who knew you personally, would loan you money, primarily to buy a house, when banks might not be interested in loaning to you. It was, and still is somewhat, a mutual association.
Banks have a much broader scope of business, can make any type of loan, invest money, care for estates, change currency...any financial service needed. They are more of an impersonal business, usually.
I have been a member of credit unions, and a loan is less formal with them, and quicker. However, Bank of America, a very large bank, I have found to be very well run and customer friendly, as my identity was stolen 2x this year, and they helped me in an expedient and friendly manner which was quite pleasant, and I told them that.
So one bank is not just like another. I deposited cash money in Citizen's Bank, and they tried to tell me that I could not withdraw it, I finally got it, but it was trouble. So ask people what their experience is with a bank or credit union. |
|
Pia
|
Banks normally charge higher fees than a credit union.
But credit union services may be very skimpy, and not as qualitative as those of banks |
|
HotInTX
|
Banks are mainly, if not entirely, run by corporate and large firm investors whereas Credit Unions are owned by the smaller guys, including investors like you and me. Many companys and institutions do have Credit Union memberships available to their employees, and, most of the time, allow immediate family members to join as well. The most benefit you would receive from either one would be the Credit Union since they offer lower interest rates and are more likely to help you in areas where banks wouldn't, like personal loans, mortgages, etc. |
|
khaLehLa
|
Credit union charges interest in lower rates compared to banks. Usually, credit unions are owned by members, which poured in a capital stock. At the end of the year, most of these credit unions will give incentives to its members in the form of dividends and patronage refund. |
|
eg_303
|
Actually you dont benefit from either all banks do is hold your money and dont look forward to earning interest on your money unless you have a cd account other than that if you want a loan it dont matter where you have your money its all based on credit and income/debt ratio just lettin you know. |
|
celery_is_the_enemy
|
A credit union is generally "owned" by their members, meaning that you pay a small fee (like $5.00 or something) and that means you own a share in their financial institution.
Credit unions don't pay taxes on their profits, so generally they have looser credit terms, allowing less-than-perfect credit people more of a chance to get a loan from them, and also supposed to give them the capability to offer you a lower interest rate on loans, which isn't always the case but they should.
A bank is generally owned by either one big millionaire sitting at his desk and collecting the money that is rolling in, or by another corporation. The bank may also sell some of its stock to other stockholders if they so choose to. They have to pay taxes on their profits to the federal government. |
|
.
|
Banks have fees for every little thing and credit unions dont. Also you can open free checking and savings accounts also you dont have to go through a credit check to get a debit card with a credit union. Thats why people prefer credit unions over banks they dont have to worry about fees. |
|
shauny2807
|
as many here have stated, a credit union is like a small company owned by its members, usually requiring a investment from its members (such as a share purchase). A bank is a bank - duh!
It gets tricky though right here. In a bank, if there is a war or some other disaster (like a hurricane etc) that devistates the economy, your money is protected. By that I mean if you had $100 dollars before, you will still have that $100, regardless of the real world value that becomes (it could really be worth almost nothing because the cost of goods could skyrocket uncontrollably)
A credit on the other hand does not give you that promise. If there is a war and they shut up shop, they may take your money with them, and just pay out dividends on the shares. This could mean if you had a share of the credit union that was worth $5, and you had $100 in your account, you could walk away with only $6 - or less than that!
However don't let that discourage you. Most credit unions are tied to big companies and this does help keep them honest - and they do tend to be a much friendlier and cheaper way to keep your money. It is a gamble, but a small one. |
|
zed0162
 |
Well some credit unions you can access all over. Like I have a account with Visions and I can use my bank through HSBC and a few others but cant remember which ones. But like some of the others have said too, banks are all about THE BANKS PROFITS. Credit Unions are more fore the customer. Obviously no matter where you go they need some profit or else they get shut down. In my opinion it is better to go through credit unions because you will get better service and it works out better for you usually. |
|
spazywaffles
|
im in a cerdit union . The Delta comunity credit union its very fun im not sure the difference so i thinka credit union keeps track of were your money goes . A bank keeps track of nothing |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
31 | 12 minutes(s) ago
| | | |
31 | 44 minutes(s) ago
| | | |
30 | 54 minutes(s) ago
| | | |
31 | 2 hour(s) ago
| | | |
31 | 5 hour(s) ago
| | | |
31 | 9 hour(s) ago
| | | |
31 | 11 hour(s) ago
| | | |
31 | 1 day(s) ago
| | | |
31 | 3 day(s) ago
| | | |
31 | 1 week(s) ago
| |
|
Homepage 
Financial
Forum 
Personal Finance 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
