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Joined 2 months ago
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Cake day: October 6th, 2024

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  • Yeah, I’ve lived in Germany and those are terrible. Most charge monthly fees.

    Some waive the fees if you have direct deposit or a minimum balance, but if you loose your job or leave the country for a decade, they’ll fuck their members pretty hard

    Credit unions in the US are nonprofit banks that are coops. Everyone who is a member votes on what to do with the excess revenue, which usually gets paid as dividends back to the members (everyone with a bank account) or gets reinvested to cover cool services like ATM refunds (as in, they give you money for fees charged by other banks), free travel/phone insurance, etc.

    Its curious that the idea of a credit union was born in Germany but modern German credit unions suck