Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
AmTraks magazine touts CUs as banking option
WASHINGTON (5/26/11)--Credit unions were touted as an alternative to banks in an article in the May/June issue of Arrive magazine, Amtrak’s bimonthly publication, which Amtrak said has more than 1.4 million readers. The article, in the personal finance section of the magazine and titled “Banking Without a Bank,” contrasts the member-owned nonprofit structure of credit unions with the profit-driven shareholder-owned structure of banks. “Our goal is to maximize benefits of our depositors, from lower fees to higher interest rates on savings,” Bill Cheney, president/CEO of the Credit Union National Association (CUNA), told the magazine. When banks “walked away from customers” during the financial crisis, Cheney added, credit unions loaned $6 billion during that two-year period “and it didn’t cost taxpayers anything.” Credit unions annually save each member $80 in fees and loan interest, according to CUNA research, the magazine noted.


RSS print
News Now LiveWire
USFCU, Minn., hosts small business networking night. http://t.co/CBFHpJTFZe
7 hours ago
Number of @CUNA-certified fin. counselors hits 2,175 http://t.co/3fQGcdxyLO
8 hours ago
Jobless claims drop by 19,000 this week #Market #NewsNow http://t.co/LSqaYCsmX4
9 hours ago
#RBC draws letters from @SenatorBegich, @SenShelby to @TheNCUA See #NewsNow http://t.co/JvLBwkHwxF
10 hours ago
It's #summercamp with a financial literacy, #creditunion twist http://t.co/5eaps9ZoVB
12 hours ago