Rates

 

Contrary to the Board’s claims, virtually all evidence suggests converting to a bank will mean we are charged worse rates and fees. Here’s why:

	Available data and most every study – whether conducted by researchers, the government, credit unions and even bankers – have found that banks charge worse rates than credit unions.
	As a bank First Basin would have substantially higher costs than it does as a credit union. If it costs you more to make a product, than you usually have to charge more to sell that product. If not, you make less money. Either way, the members lose. If we pay more, we lose. If the credit union makes less money, we lose.
	But don’t believe us. Compare current rates at Texas Credit Unions and Banks here. As you can see, credit unions offer lower rates on most loans and pay higher returns on most deposits. To compare fees and understand the difference, click here.