why are credit unions better..? I have no experience with them.

Because they don't pay any federal income tax.

Absolutely! Less red tape and better rates.

When I occasionally buy cars from private parties, even when I have the cash, I typically finance through my credit union...which helps ensure all documentation is in place, then I pay off the bank loan. Quick, easy, and worry free. I think Credit Unions are not for profit ventures, too. I use Wescom CU. Dave911

So do you use them just for loans or for general banking as well..?

I use mine for general baking as well, most have all the bells and whistles that any bank would have. Im actually a member at four credit unions!

Careful. Many credit unions are NOT FDIC insured. So IF they fold the fed is NOT there to guarantee your savings. FDIC covers up to $100k (or so).

FDIC is 250k now.

Most Credit unions have their own association that insures much like the FDIC. It is thru CUNA Mutual in Madison WI. They have done very well over the years in keeping the credit unions solvent when they run into an issue by helping the struggling CU get purchased by a stronger entity.

It is VERY rare that the actual customer will ever see a loss. (in most states, The credit union is required to have the insurance and bonds etc in order to get their charter.)

Anytime you make a loan, rather it be through a bank, CU or private party, due dillagence is the key, and have a good repo company when things go bad...

I know a great repo company, OK selfish plug!!!!!

I know a great repo company, OK selfish plug!!!!![/QUOTE]

I know a great repo company myself...I take it you are in the business also..?