I personally feel leave your savings account alone for unscheduled events (need I say “Rita”). The advantage is this method improves your credit score since savings accounts don’t factor in on ones score.
Getting a loan means you’re reshuffling your debt, so one would need to have discipline to not start new card debt while the credit union loan is being paid. I just wish Greenspan would quit raising the interest rates because practically every month’s card statement my rate jumps .25%. Very discouraging.