While many credit union members swear by the service they receive, there are still many reasons people choose to bank with giants like Bank of America (NYSE:BAC). In this segment from The Motley Fool's everything-financials show, Where the Money Is, banking analysts David Hanson and Matt Koppenheffer take a question from their mailbag about big banks vs. credit unions.
David points to Bank of America's advanced technology and ability to offer a one-stop-shop experience for customers. Bank of America allows a customer to have their deposits, credit cards, mortgage, and investment accounts all on one screen. Meanwhile, Matt notes how Bank of America and other big banks like Citigroup (NYSE: C) can influence customers because of their enormous advertising budgets.
David Hanson has no position in any stocks mentioned. Matt Koppenheffer owns shares of Bank of America and Citigroup. The Motley Fool recommends Bank of America. The Motley Fool owns shares of Bank of America and Citigroup. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.