Are Credit Unions good for investments?
Question:
Answer:
Yes, credit unions are good places to go, but they don't have a corner on the market, so shop around and see what rate you can get. Make a list of three REPUTABLE places close to you and then go in to each of them and talk with someone about what they offer. Don't agree to any of them while you are there -- instead, just get the info and then go back to the one that you are most comfortable with.
Also, keep in mind that if you assume some risk you can often do a lot better in the long term by going to stocks (mutual funds).
I hope this helps!
Credit unions can provide you with Cd's that pay XX percent to you depending on how long you invest them for.. (suggest a year maximum)and they are FDIC insured. If you are not familiar with investing you should consider putting your money into Cd's and build you skill level before venturing into the investment field. When you do I suggest you look at mutual funds (no load type) that are diversified as possible (index funds are the best for this).
But don't jump in with both feet until you are comfortable.
Good luck.
credit unions are usually better with apr and points. Look into Certificate of Deposits. they are usually around 3-4% apr with a minimum of $1,000 or more for about 2 year. my place is currently at 4.5% for 2 1/2 years. I wouldn't go with bonds because they are taking more time to mature. mutual fund, stocks are good but go with balance or growth. IRA and 401k or 403b are good to look at for future. personally i have fedelity accounts for stock, mutual fund and 401k. only my 2 cents
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