Dread checking your bank balance? We get that! Low income families typically carry lower balances, which leave them at higher risk of overdraft fees and other expensive penalties.
With all the scandals revolving around overdraft fees, it’s no great mystery why low income individuals struggle to find a bank they can trust.
What banks and credit unions are best for low income customers?
Personally, I’ve decided that in the battle between banks and credit unions, credit unions win every time. Our local CU offers superior customer service, lower fees and many other benefits.
It is important to realize that the best option for you will depend on where you are and what you’re looking for. Big banks spend a lot of time and money to convince you they’re the best. However, the best option might not be that popular national chain bank down the street!
The advice in this archive should be able to help you make a great decision. All of our posts that are related to banks and credit unions (and financial institutions in general) can be found here in these posts!
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