Islanders move love and money to their own credit union
I like their thinking. You’re a cooperative and you’re doing business with a bank. And, you’re not getting what you think you deserve as a customer. You realized there are other cooperatives, like you, who offer savings accounts, checking accounts, investment accounts, merchant credit card programs, online banking and – business loans. Yes, there are some credit unions that do business loans. There would be a lot more credit unions that offered business loans if Congress would stop wringing their hands.
One last thing – personally, I’ve never understood why a cooperative had their accounts at a bank. It’s one thing if there are no credit unions available in the area. And, with the onset of online banking and other e-services, that really shouldn’t be an issue these days. I look at some of the larger cooperatives in the state and most have their business accounts at a bank.
Really. I don’t get it.