(May 12, 2009) – I’m old enough to remember Savings and Loan Associations – you had a document called a passbook, you took in in to the S&L, added money to your account, and the S&L computed your balance and entered it in the passbook.  You generally earned 5% interest.

Because of changes in financial laws, crooks in high places, and general incompetence, the S&L’s went out of business about 20-years ago.  I put my savings account into a bank, where I was stunned to see that fees cost me more than the interest I earned.

I switched to a credit union and now pay no fees at all – on any accounts.  Don’t pay those fees. Shop for a bank that doesn’t charge them, or find a credit union.  You’ll save your family money.