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Credit Union or Bank for Saving?

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  • 17-07-2011 9:35pm
    #1
    BlondePrincess
    Registered Users Posts: 142 ✭✭


    Hi, I want to start a joint savings account with my boyfriend. Is it better to go with a bank, or the credit union? We are saving for a deposit, with the intention of getting a mortgage in the next year.


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    #2
    cookie1977
    Registered Users Posts: 6,794 ✭✭✭cookie1977


    Probably best to go with a bank seen as that's where you'll be borrowing the mortgage from. Then save regularly and they'll be more favorable with you as you have a track record with them. In saying that it is very difficult to get a mortgage out there at present due to the economic situation and the banking system problems. The credit union is great for regular saving for holidays/extensions etc... but I think a bank will be better to be seen to be saving in if you're looking for a mortgage. Good luck.


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