Ditch the Big Bank and join a Credit Union

1- Laughable interest rates on savings/checking. And loan rates. Try Rewards Checking at CUs.
2- Due to the recent Credit Card Act of 2010 it is harder for big banks to make money so they are more aggressive in fees such as atm fees. The trend for charging for credit cards and checking accounts is coming. And it takes a smart person to decipher their fee structure.
3- They are for profit and that means the consumer always loses.


Counter Arguments...
1- ATMS? Big banks are Brick and Mortar establishments and everywhere but if your CU is part of a Credit Union Partnership like this one you can do whatever you need to do at any CU branch or ATM.

2- Banks do fail but you are insured up to $100,000. Big Banks are covered by the FDIC and CUs are covered by National Credit Union Administration NCUA. Both are pretty much the same. You only hear about people losing their money because they are idiots who keep more than 100k in their account.

3- CUs don't have that much money to spend on adds in Yankee Stadium or sexy iphone apps but they all have online banking which is all you need.

4- CU membership is restricted but not really. Most times to join you or a friend, or family, or just need to know how to google a zip code to join. I.E. Stanford's CU you just need to make a 10 dollar donation to the "friends of palo alto library fund". Do a little HW and you will get in the door.