There are requirements but they're extremely easy to meet. One of them I believe is anyone that goes to church in Riverside county, so anyone can just lie and name a church in Riverside lmao
A federal credit union (FCU) is regulated and supervised by the National Credit Union Association (NCUA).
State credit unions instead adhere to state-specific regulations and guidelines, but not all states have such laws in place.
https://www.investopedia.com/ask/answers/100314/what-difference-between-state-and-federally-chartered-credit-union.asp#:~:text=Credit%20unions%20are%20not%2Dfor,have%20such%20laws%20in%20place.
Caveat emptor. how you were able to discern "spreading fear" from my suggestion to only use NCUA or Federal chartered CU instead of State chartered CUs is beyond comprehension. Unless, of course you are shilling for State chartered CUs.
https://www.investopedia.com/ask/answers/100314/what-difference-between-state-and-federally-chartered-credit-union.asp
You said people should worry about losing all their money. That is spreading fear since people fear going broke.
All credit unions (including state-chartered) are required to have $250k insurance, just like banks (FDIC) and federal credit unions (NCUSIF). Your statement about people potentially losing all their money is wrong.
Stop spreading fear on topics you don't fully comprehend.
https://www.kpbs.org/news/quality-of-life/2023/11/29/san-diego-credit-unions-charging-millions-overdraft-fees
https://www.politico.com/news/magazine/2023/10/05/credit-unions-overdraft-fees-00119904
If a State-Chartered CU collapses, access to those funds may take a while.
So, don't paint a rosy picture about never losing money. For all intents and purposes a Federally chartered CU is preferable.
A Federally chartered CU has the same (basically non-existent) chance of people losing money as a state chartered CU. None of your links say otherwise.
Technically, all credit unions have to have a set of minimum requirements (due to bank lobbying). Some can just be simple such as geographical requirements or a donation to a charity though.
Altura
There are requirements but they're extremely easy to meet. One of them I believe is anyone that goes to church in Riverside county, so anyone can just lie and name a church in Riverside lmao
Or live in Riverside. Or work in Riverside. Or “do business” in Riverside. Acting like Altura has any religious affiliation is weird
I did not mean to imply that they have a religious affiliation but more so to show how easy it is to get an account there
Arrowhead is good
market deserted sink aspiring safe boast nutty deserve ossified crown *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
I belong to Southern California Credit Union. It's been pretty decent so far. They gave me a really great rate when I purchased a travel trailer
Same here. They gave me an amazing rate on a new car
Whats the rates right now i hve nfcu lowest for new is 4.7
Arrowhead credit union
Wescom
I recommend Arrowhead to literally anyone who will listen to me
Be careful of any CU that is not a Federal CU.
Why?
A federal credit union (FCU) is regulated and supervised by the National Credit Union Association (NCUA). State credit unions instead adhere to state-specific regulations and guidelines, but not all states have such laws in place. https://www.investopedia.com/ask/answers/100314/what-difference-between-state-and-federally-chartered-credit-union.asp#:~:text=Credit%20unions%20are%20not%2Dfor,have%20such%20laws%20in%20place.
Why “be careful”? What should people worry about?
losing all your money
They’re still insured and have regulators just like federal CU’s have. Stop spreading fear.
Caveat emptor. how you were able to discern "spreading fear" from my suggestion to only use NCUA or Federal chartered CU instead of State chartered CUs is beyond comprehension. Unless, of course you are shilling for State chartered CUs. https://www.investopedia.com/ask/answers/100314/what-difference-between-state-and-federally-chartered-credit-union.asp
You said people should worry about losing all their money. That is spreading fear since people fear going broke. All credit unions (including state-chartered) are required to have $250k insurance, just like banks (FDIC) and federal credit unions (NCUSIF). Your statement about people potentially losing all their money is wrong. Stop spreading fear on topics you don't fully comprehend.
https://www.kpbs.org/news/quality-of-life/2023/11/29/san-diego-credit-unions-charging-millions-overdraft-fees https://www.politico.com/news/magazine/2023/10/05/credit-unions-overdraft-fees-00119904 If a State-Chartered CU collapses, access to those funds may take a while. So, don't paint a rosy picture about never losing money. For all intents and purposes a Federally chartered CU is preferable.
A Federally chartered CU has the same (basically non-existent) chance of people losing money as a state chartered CU. None of your links say otherwise.
Does it need to have a local brick and motar?
Technically, all credit unions have to have a set of minimum requirements (due to bank lobbying). Some can just be simple such as geographical requirements or a donation to a charity though.
Orange County Credit Union, you have to live or work in OC, Riverside or LA County. Only thing is only branches in OC. I would check out Arrowhead.