Quote Originally Posted by Sammich
I DUNO HOW THEY GIVE SUCH LOW INTEREST RATES, BUT ITS BETTER THAN BANKS..I THINK MY INTEREST RATE IS AT LEAST 3% LOWER THAN IT WOULD BE AT A BANK. THE ONE HERE WHEN I FIRST GOT MY TEG ALL I HAD TO DO WAS OPEN A SAVINGS ACCOUNT HAVE $25 IN IT, THEN THEY DID MY PAPER WORK AND I HAD MY CAR THE NEXT DAY
Credit unions are "private," opposed to banks which are public. Pretty much anyone can open an account at your local Suntrust, Wachovia, etc; however, credit unions are non-profit cooperatives with selective members from companies, communities, schools, etc.