Differences between online banking vs credit unions

[saren]

Hi everyone,

This is a general inquiry to learn more about online banking vs. credit unions (in BC, Canada). If you don't have regional expertise any general information will be helpful.

I basically need help deciding which route to go? Opening an online checking account or going with a local credit union in my area. My biggest deciding factor is fees, and availability of the most bank machines to withdrawal money (with zero fees) as well as direct debit purchasing in retail (again no fees).

If i go with online banking, i am considering PC financial, Tangerine (the Candaian version of ING direct)

https://www.canadiandirectfinancial.com/
http://www.tangerine.ca/en/
http://www.pcfinancial.ca/

I like the idea of online banking because there is less overhead and with PCfinancial points going toward groceries (as it's a discount grocery store). However there is a lot about credit unions i don't know perhaps that's the better route. What are the pros/cons between credit unions and zero-fee online banking given the criteria above.

[bylo]

Hi saren, I would suggest more appropriate forums for this topic are...
Red Flag Deals: Personal Finance
Financial Wisdom Forum
Canadian Money Forum

All are Canadian so you'll get more exposure to more people who are more knowledgeable about this.

I'm in ON, not BC. CUs are provincially regulated. I don't know how your CUs differ from ours. Here in ON I would choose PCF over a CU. PCF incidentally is operated by CIBC so you should be able to use the CIBC ATM network without fees.