Author: Editorial Team

This post summarizes our view of the best credit unions in Florida. There are currently 125 federally insured credit unions in the state of Florida. These credit unions collectively have 6.7 million members and $103 billion in assets. Our methodology is similar to the approach we took in determining the best credit unions in America with some minor adjustments.5 Best Credit Unions in FloridaThe 5 best credit unions in Florida in 2022 based on our research are:Campus USA Credit UnionPen Air Credit UnionCommunity Credit Union (Florida)Panhandle Credit UnionEducational Federal Credit UnionOf the 5 credit unions, Campus USA Credit Union also…

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600 Credit Score Is Considered ‘Very Poor’To put it bluntly a 600 credit score is well below national average score of 711 and will be viewed by most lenders as very poor. TransUnion is one of the three credit bureaus in the United States. They use the credit model VantageScore 3.0 which has 5 categories for credit scores as shown in the below chart:A 600 credit score falls into the lowest of the 5 categories and is considered “Very Poor” according to TransUnion. Credit Scores are used by lenders to determine your creditworthiness, which means the likelihood that you will…

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What are the Best National Banks in America?We dive into significant detail on each national bank in our list. But to save time, these are the 10 banks that comprised our list of the best national banks in America:Ally BankBank of AmericaCapital One BankChase BankCitibankFirst Republic BankPNC BankTD BankTruist BankWells FargoThis list and the post the follows, is the product of weeks of research into the national banks in the United States. As we’ve discussed on many occasions the list of banks currently operating in the country extends well into the the thousands. Even within this figure there are hundreds…

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A 660 Credit Score is a Very Exciting Score Exciting might not be the word commonly used to describe a credit score, but we think it’s the best way to describe a 660 credit score. The reason for this is that a very large number of lenders in the United States use the 660 credit score threshold as the cutoff point when describing the makeup for their loan portfolios. Here’s a brief example: The chart shows the credit score breakdown of the credit card portfolios for Capital One Bank and Discover Bank, and the residential mortgage portfolios for Chase Bank…

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If you’re one of the 8.5 million people living in NYC according to the United States Census Bureau data from July 2021, and either don’t have a bank account or are wondering what else is out there, you’ve come to the right place. We analyzed the banking product and services on offer from each of the 28 designated banks in NYC and leveraged our research into national and regional banks to come up with our view of the 5 best banks in NYC.Where We Landed: The 5 Best Banks in NYCThe 5 best banks in NYC in 2022 based on…

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How Does Zelle Make Money?The short answer is that Zelle does not make money. This will come as a surprise to most consumers but the money transfer service is operated very similarly to a nonprofit institution. There are both business and operational reasons for this which we delve into in detail in the article. The bottom line however is that Zelle does not charge consumers or financial institutions for its service, and our understanding is that Zelle is currently not monetized at all.  Table of Contents Why You Should Care About Zelle’s Business ModelAs a consumer it is a good…

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Finding The 100 Best Credit UnionsOne of the disadvantages of credit unions is the fact that membership in many cases is limited to a select group. This is known in the industry as a credit union’s field of membership. Functionally what this means is that unlike a bank, not everyone can become a member of a given credit union and this is one of the defining differences between a credit union and a bank.In turn this also means that the various products and services that a credit union offers is limited to a (often select) group of consumers. Therefore, in…

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Overview of Pawtucket Credit UnionPawtucket Credit Union was established in 1964 and is the 16th largest credit union operating in the state of Rhode Island as measured by total assets. The company has 1 branch and 4 employees.Contact InformationMain Office Address: 137 Roosevelt Ave., Pawtucket, RI 02860-2129Phone: (401) 728-0500Charter Number: 16016Charter Year: 1964Employees: 4Pawtucket Credit Union Routing Number: N/AMembership Trends: Credit unions in the state of Rhode Island have an average membership base of 26,297 compared with Pawtucket Credit Union which has total members of 1,030. Over the past three years, the credit union’s total base of members has declined…

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Overview of TD BankTD Bank was established in 1852. The bank is a Canadian bank that has established a large presence in the United States over the years and is now one of the largest banks operating in the country. The bank has been an active consolidator in the country with several transactions announced and completed over the past two decades including:Commerce BankSouth Financial CorpNordstrom Credit Card BusinessFirst Horizon Corporation The latest acquisition is also one of the largest TD Bank has announced. Following the deal the company expects to have $614 billion of assets, $469 billion of deposits and…

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Overview of Truist BankTruist Bank was established in 1872 and is the product of the merger between two banks, BB&T and SunTrust, in December 2019. Following the merger the bank was rebranded under the name Truist Bank and the conversion of SunTrust customers was completed on February 2022. As detailed further below the bank continues to use the BB&T bank website. Truist Bank’s main office is located in the city of Charlotte in North Carolina. Following the merger Truist Bank is now one of the largest banks in the country and currently has total assets of $531.0 billion, total net…

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