AboutJim Meadows Expertise I can respond to most questions concerning consumer and business relationships with US financial institutions. My expertise touches on deposit and loan issues and particularly on strategies to navigate through bank policies personell and practices. I have a degree in Economics, attended law school, Graduate Shool of Banking, and Commercial Lending and Compliance Schools.
Experience I have twenty years experience as a bank CEO. Most of those years were spent operating a bank focused primarly on serving consumer/retail needs. I helped pioneer deposit and loan products for low/moderate income individuals. I currently serve on multiple bank boards and am Chairman of a Commercial Bank in Atlanta.
Question I have been at this one local bank for about 3 years i have had no problem with them but recently with some people i have talked to they prefer credit unions. Say it is a lot easier to do business with them. why is that?
thanks
Answer Marcy, Credit Unions are not for profit financial institutions owned and governed by its members. They have a reputation for competitive loans rates especially for consumers. They have substantially the same products as commercial banks and the same level of deposit insurance. I would suggest that you choose based on convenience, price, personal relationship not the charter type (bank vs. credit union. As to the statement "easier to do business with", I guess it all depends on personal experience. Jim
