Recommended credit union?
Posted by Red_RingRico@reddit | Dallas | View on Reddit | 19 comments
Wanting to move my money from a big bank to a credit union so I can get better savings rates and a better car loan. Does anyone use a credit union here in Dallas, and would you recommend it?
CatteNappe@reddit
We switched from a bank to a credit union in the 70's, and have not looked back. There does not seem to be anything that any bank can offer that we cant get as good or better at the CU.
hodor137@reddit
I recently went the opposite direction after 41 years of sticking to CUs. I was tired of their poor online service, restrictive debit card spending and atm withdrawal limits, and insanely overbearing fraud alerting. Moved my checking to capital one since I used them as an online savings, and it's been a revelation. Keeping my CU account around, and my 20 year old (but useless) credit card, since it's my oldest credit line. MAYBE if I need an auto loan or something I'll use them? Although a dealer is always going to offer way too many incentives.
Heck, when my ex and I bought a house we fully intended to use her USAA for insurance (don't get me started on USAAs arbitrary eligibility bullshit, especially with the way they spam their commercials) until Allstate quoted lower with better coverage in every way - and they'd treated me great with auto claims. I'd LOVE to avoid corporate banks and insurance companies but when the costs are lower AND service is better, well shit...
CatteNappe@reddit
Guess we are fortunate to be with one that has great service. We did have a sizeable savings account with a local bank in order to qualify for a safe deposit box and they were a pain to deal with. The CU started offering boxes so we moved out of the bank. Just in time apparently since they closed the branch where our box was and the options were pretty inconvenient. That said, the CU has proudly announced the imminent introduction of a new AI chatbot to be the first level of customer interface, so ask me in 6 months and I may not be such a happy camper.
Red_RingRico@reddit (OP)
Which CU do you use, and would you recommend it?
CatteNappe@reddit
We have been with Texans for years, starting back when it was open to only TI employees.
GTR_bbq_SCIfi@reddit
CUTX is the old Dallas Teachers Credit Union. Never had any complaints.
elchanan9@reddit
Advancial
Rev_Turd_Ferguson@reddit
Navy fed Credit union of Texas
doink992000@reddit
I like EECU and RBFCU. Both have a lot of branches, offer good interest rates, have fairly modern apps.
username_user13@reddit
Locally, we use Texans. They’re very friendly and are even open on Saturdays (that was a must for us). No complaints on our end!
BucketofWarmSpit@reddit
I have a complaint. I have an account there. Years ago, my savings account would accrue interest in accordance with the normal interest rate. It was better 10 years ago and then flat lined when the interest rate got lowered to close to 0%.
Later, interest rates went up but I was still earning something like .01% interest. That, of course, led me to find a high interest savings account.
I know that keeping money in a savings account isn't a very good way to grow wealth but until I find something I want to sink it in, I want to get more than pennies every month.
Other than that issue, I haven't had any complaints.
But I don't think credit unions are what they used to be. Something about them has changed over the past 20 years. I just don't know enough about finance to go into it.
ITZOURTIMENOW@reddit
Resource One Credit Union is pretty decent
ApprehensiveAnswer5@reddit
My family has been with Resource One for decades.
Initially it was an employer CU for Sears Roebuck, and my grandfather worked there and then my parents had accounts and set up mine and my siblings’ and we’ve just never left.
The only time I had other accounts was when I lived out of state, but I also kept my R1 account active too.
I purchased a vehicle in 2022 and did also shop other CUs for a rate, but they ended up being the same as Texans, so I just went with my own CU.
(Texans is the other one that I hear a lot of good things about from friends!)
The only drawback with R1 is the lack of branches. However, you can do almost everything online with the virtual branch option or on the phone.
They also are in the co-op network mentioned above, so you have the option of various ATMs (7-11 is probably the most plentiful of the co-op ATMs) and you can conduct some business at member branches too.
FlyingToast21@reddit
I use Neighborhood Credit Union, great loan rates and people are always nice. Get paid 2 days early too which is great. Happy to answer more questions if needed
Mobile-Employ2890@reddit
I recently started using Texas Trust. They have pretty good CD rates (if you happen to be a "public servant" you can get a CD that allows a withdrawal of 25% to no penalty, never heard of that before) and wonderful customer service.
They also have a $500 bonus for opening a "bonus checking account" if you use direct deposit for $10,000 in 90 days ($300 if less but more than $2000 I think).
boldjoy0050@reddit
I’ve got an account with RBFCU. They have branches all over the state so for that reason I like them. For more local options, EECU on the Fort Worth side is good. On the Dallas side, Texans CU is good.
Mautamu@reddit
If you do a decent amount of traveling and want a checking account you can visit in person, I'd suggest finding a Co-Op Credit Union. The reason for this is that they have a large network of shared credit unions and ATMs which you can walk into and receive services like at your home credit union more details. A few Dallas-area Credit Unions which participate in the co-op are Resource One CU, Prestige CU, and City CU.
Agree with u/K3BIN that you can find better savings rates in other investments, but if you're just wanting somewhere to park a small amount of revolving cash, I've heard good things about Neighborhood CU, CUTX, and DATCU, though none of those CUs are co-op members from my understanding. Just make sure to check the rates sheets from the credit unions nearby to you.
Here's a thread from a few months ago as well for a few more opinions: https://www.reddit.com/r/Dallas/comments/1codp3s/credit_union_recommendations/
TeslaModelS3XY@reddit
I used a CU based out of Houston for over a decade but recently switched to SoFi. Much better tech.
K3B1N@reddit
If you’re looking for savings rates, look at other vehicles. There are far better options than even a savings account at a credit union.
For car loans, you can get one at most credit unions without having a savings/checking account with them.
My car loan is through one and came automatically with a savings account. I just have my car note amount+50% automatically deposited into the savings account and transfer it to the auto loan.