Last class we talked to the branch manager of Bank of the West, Ms.Campbell brother. The question my group asked him was What is the difference between a credit union and a big bank? His response was along the lines of Credit unions you are buying into an ownership, less worried about profit and more about giving higher rate. Group of people pulling your money to make the best of it, but it is not full service of bank, cannot do home loans. Can’t send funds to people out of state. A couple of follow up questions that I did not get a chance to ask him was If you weren’t a big bank manager which of the two would you recommend to someone just stating a account

The Bank of the West Logot? The second follow up question is which one gives you a better rate?

After some research I came up with some answers to my follow up questions. For the first question I found that Credit unions are good for starting off but you have to remember that they’re not full on banks.They usually have better rates and better customer service. Credit unions aren’t for everyone though if you need to get loans than banks are better For the second question I found that credit unions usually give better rates. This makes a lot of sense because you’re part of the company so you get part of the benefits.

I think that this was a great opportunity because we got to ask questions that we probably never would of asked from someone who knows what they’re doing. I did actually learn a couple of things like witch is better a credit union or a bank and what a cd is and if the government is part of controlling bank which it is not.