Well, if we talk about credit cards for sure, Credit union are the champion! because its already stated from their names! i.e Credit Union! it mean their specialization are Credit product! e.g Personal Loans, Home loans, cars loans, mortgages loans, Credit cards and etc!
In reality Credit union are not to famous if you compare with other commercial company! the reason simply because they don’t use ads to promote their business! Credit Union have thier advantages in loans industry! whether you like it or not! credit union are your best best to get low interest rates! 🙂 but at some point, I am sure, some credit union board member think about, why people want 25% APR ? rather than dealing with 5% APR!
and I’ts quite tragic if we think that way! because 25% APR, mean! if you owe to them, 100.000! it mean in your you pay about $125 thousand dollar! and if you can pay off your debt with in 1 year! it mean your debt will increase more further! but if you do business with credit union! you only pay less than 10% Interest rate per year! it mean it will need 10 year to make your debt double!
But for some reason most of Good product, most of the time, always have strict rules, and regulation! Credit union also their own weakness! they can’t go global, or even national, and only for certain people of groups!
so if the question does credit union better than other finance company ? the answer is yes and no! but of course credit union have low APR, no annual fee, no cash advances fee, no transfer fee and etc! meanwhile if you dealing with finance company, most of them will have a lot of fee and not to mention of high interest rate! but their advantages are, they have wider and larger market! so basically every financial institution actually have their own market! but for you personally, have to decide which one, the low APR, or prefer with wider network!
anyway just FYI, bellow are list Credit union in your area 🙂