On the flip side, if you think it’s unfair that credit
unions with their nonprofit tax advantages
compete against tax-paying banks, make that
part of your decision.
PERSONAL TOUCH
Consumer Reports says credit unions are among
the highest-rated services it has ever evaluated,
with 96 % of members highly satisfied versus
80% for the three biggest national banks.
Other surveys suggest banks have closed
the customer-satisfaction gap in recent years
because they — on the whole — offer superior
digital communication that consumers value.
Credit unions can also be more flexible in loan
approvals, said Mike Schenk, chief economist
at the Credit Union National Association.
“You’re more likely to find a loan officer who is
willing to listen to your story and adjust those
underwriting criteria to get you into a safe
loan,” he said.