<prompt> Human: My boss recommend me that I open an account in a credit union, particularly Spectrum Credit Union. I have never heard of this credit union before and most people in reddit recommends Ally as a credit union. Can someone offer me any insight regarding Spectrum Credit Union vs Ally? What are some things that I should consider before applying to a credit union? For example, if I move my money froma bank to a credit union do I have notify the IRS about the transaction if is more than 10k?  <response>: Most credit unions are local. Just walk in and talk to them. Most shouldnt have fees for basic checking accounts and savings. Ally is an all online bank. No you dont have to notify anyone about moving your money 