Bank vs. Credit Union for deposits...?

[Dinarius]

Did a quick search and couldn't find anything on this topic.

Apologies in advance if I missed a discussion.

I presume that the dividends paid out vary from credit union to credit union, so a direct comparison between them and banks is probably not possible.

But, is it possible to make a general observation as to the average dividend payout on deposits versus bank deposit interest?

Many thanks.

D.

 

[Slim]

Some idea here although the thread didn't really take off for 2016/17. http://www.askaboutmoney.com/threads/what-is-your-credit-union-dividend-for-2015.196754/

Overall, it is very low but sometimes better than banks. My local CU is paying .25% for 2016. By the way, you won't know the rate until after year end. You may need to fulfill certain requirements to join, residence, profession etc.

 

[Dinarius]

Thanks.

I'm already a member of a CU - Donore - and I have a small amount with them.

I have a larger amount with RABO, and am wondering what to do.

I don't really need the money, thankfully, so I could put it away for a while.

Thanks again.

D.