Bank vs. Credit Union: Pros/Cons?

[mrandmrsromero]

I am considering divorcing my long term big bank in favour of a popular local credit union. 

Planning to start my own business over the next year and have heard credit unions are much more small business friendly than the big banks.  I'm also tired of the big bank fees drain, although I do like the convenience of having many bank machines and branches available everywhere. The credit union I'm considering is offering free banking with automatic pay deposit; and a very good rate on personal loans.

Does anyone have any experience with credit unions vs. big banks?  What are the pros/cons?

[haver]

I've moved from a big bank to credit union. It is such pleasure.
Advantages:
1) I do not pay service fees
2) I get interest on saving account
3) Lower rates on loan
4) I can include notes in each online transaction. It is so convinient for income tax.
Disadvantaged:
1) Payments oversees are more expansive and take more time.

[collinb]

not having cash machines available to you is the biggest disadvantage with credit union, but if you are a person that always plans ahead this would not be such a big problem!

[Addison01]

I don't have any personal experience but have heard many people saying that credit unions are good in terms of offers and services but banks still take the crowd because it is all about reliability and security of money.

[Jonboy]

Credit Unions over retail banks any time. In my experience they are trustworthy local people providing a service for a local community. In BC deposits up to $100,000 are backed by the provincial government.  However, for businesses, be aware that they tend to be more risk averse than the commercial banks.

[SFOasia]

Infect many people are turning toward the credit union now because its very friendly and you have a group of people and also you will gain the same amount of interest here as well.