Credit Unions

Gary North - June 08, 2013

Interest rates on bank savings accounts are under 1% in most cases.

Have you checked rates at a local credit union? They are probably higher.

Are you eligible to join? Find out.

Accounts at credit unions are insured by an agency of the U.S. government -- the credit union version of the FDIC. Here is a report on this. //www.garynorth.com/snip/1067.htm

If you are using the bank account as a way to get cooperation from a local bank in buying REO (foreclosed) real estate it holds, then leave your money in a bank with REO properties. But if you merely want higher interest, look for a credit union.