2. Unreturned cancelled checks.

 

There are credit unions that just forget about cancelled checks. But then again, so do some banks!

 

3. Some local credit unions don't offer many services.

 

Not all credit unions double as a one-stop-shop for all your financial needs. Advice: keep an account in a bank as well as in a credit union for different purposes. Just in case.

 

4. You're forced to save and pay.

 

Now this isn't exactly a bad thing. As you start out in a credit union, you are obliged to keep depositing money into a savings account. It takes around thirteen weeks of putting money in regularly before you can apply for a loan.

 

5. Possible delay in getting your funds.

 

There are local credit unions that wouldn't be able to hand out your money on demand, especially large amounts. Some people take this as an advantage because it means they could look for money elsewhere and their savings stay there.

 

Membership is easy. Join your local credit union, fill out a form and voila! Most applications get approved and then you would have your account in no time. Try credit unions for a change. You'd never know when you'd need that extra money stashed in there.

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