NEW YORK (MainStreet) -- Your money question for the day: should you be banking, not at a bank, but at a credit union?
Question two: if you are a credit union member -- 101 million of Americans are, according to trade group Credit Union National Association (CUNA) -- should you be doing more of your banking at the credit union? That’s important because many members - nobody has a solid number but many guess it’s a lot - park a few bucks at a credit union, to feel good. But then they do all their real banking at, well, banks.
It may be time to stop.
Here are some numbers. At giant Chase, an incoming foreign wire will set you back $15, according to MyBankTracker. At Affinity Federal Credit Union in Basking Ridge N.J., it costs zero, zip, not a penny.
At Chase, the NSF fee is $34. At State Employees Credit Union of North Carolina (SECU), the fee is zip if cleared up in two days. It rises to $12 afterwards.
At Chase, the monthly checking account fee is $12, unless you have $1,500 or more in the account or have direct deposits or have $5,000 in other, linked accounts. At Digital Credit Union in Massachusetts, the cost of free checking is what the name says. There is no minimum balance.