How do our fees at Alliant Credit Union stack up against traditional banks?
Credit unions are non-profit where banks are for profit. For this reason, the fees at Alliant Credit Union will be lower and more reasonable than the large banks where people typically do business. With that said, credit unions sometimes have higher interest rates than traditional banks.
The interviewer would like to know that you have done some research on Alliant Credit Union and understand how their offering stacks up against traditional banks.
"Because Alliant Credit Union is member-owned, I see that you have the upper hand when it comes to CD rates, loans, and mortgages, credit unions often have the upper hand with lower fees. Right now, the advantage appears to be around .05% on many Alliant Credit Union products."
"I understand that credit unions like Alliant Credit Union tend to have lower fees due to your non-profit and member-owned status. Credit unions do not have as many investors to please, which allows places like Alliant Credit Union to often offer lower fees on mortgages and loans."
