Your rates of bank

The growing cost of gas, groceries and other expenses has many Americans — including young adults — looking for ways to save extra money.- advertisement -

However, some people overlook one source of savings: joining a credit union.

Credit unions typically trump banks by offering lower interest rates on credit cards, car loans and mortgages. They also pay out higher interest rates on savings and may have reduced or limited fees associated with checking accounts, ATMs and online bank services.

Credit unions can afford these better rates because they are run as cooperatives, in which each member is an owner. Unlike banks, credit unions operate as nonprofits and return earnings back to members.

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