A legislative bill in Congress may allow credit unions to engage in more small business lending, and any consideration of a financial institution change will be a different experience. A few tips are below for a brief comparison analysis of bank to crest union. As a former financial services executive, a diverse professional experience did include exposure to both commercial banks and credit unions. The diverse exposure to both industries does provide insight to the internal differences of technology and organizational structure when transferring a banking relationship. Consumers are exposed to many opinions about the best choice of institution to house a banking relationship, and opinion is irrelevant(i.e. my opinion) when information is a better tool to insure "a change will do you good. Therefore, the following five tips should be explored in a comparison analysis of your current bank and a potential new bank or credit union. 1) Direct Deposit Access and/or Funds Availability: … [Read more...]