Should I join one credit union or more than one?

Most financial institutions have minimum balance requirements to avoid monthly maintenance charges. If you split your money between two institutions, you may fall below each institution's minimum balance requirements, Tomas.

Every credit union offers several accounts with different features and different fees. Some credit unions may have low overdraft fees, but high fees in other areas. Some accounts waive all fees if you maintain a minimum balance. Ask each institution about the minimum amount you have to keep in your account to avoid a monthly maintenance fee. Also ask if the amount you have to keep in your account is based on the average amount you have in your account during the month, or whether it's based on the lowest amount you have in your account on any single day during the month. The minimum balance varies from institution to institution. For example Bank of America in Dallas, Texas sets its minimum balance for its checking accounts at $5,000 to avoid monthly maintenance fees. Other accounts have a monthly fee, but no fee on each transaction. Other accounts have no monthly fee, but a fee for each transaction. ►All institutions are required to print a schedule of fees. Read each schedule carefully, especially the small print and the footnotes. ◄

Tom, ask the customer service personal about their loan policies. Some credit unions may be more lenient than others as it relates to loans. Be sure to get everything in writing. Don't accept anything the customer service person tells you verbally.

You may not be allowed to open two at the same time, but you can try...your money will be safe in just one as it is protected by the government so that you don't lose money if the C.U. goes under. Open the one which seems the best and then see how it goes.

First,,, open a checking at one,,,

once you get to see that you are keeping a minimum of over 2 grand,,, then,,, and only then,,, do you open a different account.

A savings at a different bank to keep your money separate in case there is fraud in your checking at the bank the accounts.