[Philip Yu]

...or Banks? Just wanted to figure out who offers a better mortgage rate between credit unions and banks.

[Val Wolf]

If rate is your only criteria, then you will find both a bank and a credit union are equally competitive.Here's the Credit Union advantage - they are entirely locally owned and operated and chartered solely to provide service to their membership. Credit Unions are not for profit; any earnings are returned to the members as better rates. You join by buying a share in the Credit Union (usually $25 or less) and even get a vote in its operation. No foreign nationals own it; no elite family owns it. One member - one vote. Plus, because they are a community-based organization, they are more willing to work with you on a personal level if your circumstances change. Banks bundle mortgages into securities; Banks sell-off mortgages and move your house-note from bank to bank to bank all around the country; Banks get so large that customers have to go through frustrating foreign call-centers to get service.Hope this helps you make an informed choice.