Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
Business checking survey says CUs have lower costs
CHICAGO (9/11/09)--Small businesses will find lower checking account costs at credit unions and community banks, according to a national survey conducted by Moebs Services, an economic research firm, based in Lake Forest, Ill. “… Large banks try to protect loss of business, especially small business, and community banks and credit unions try to take as much market share as they can get,” Moebs said (Business Wire via Reuters Sept. 9). Evidence of a potential market move is reflected in the minimum balance to avoid a fee, with the large banks almost doubling from $1,250 in 2008 to $2,250 in 2009, while credit unions and community banks stayed the same at $500 and $1,000 respectively, the Moebs survey indicated. “Main Street institutions definitely offer a better pricing deal than the big Wall Street banks,” Moebs said. “In these hard economic times, businesses should seek the better deal.” For more information, use the link.
Other Resources

RSS





print
News Now LiveWire
Happy holidays! Here's your gift-report of another data breach: Staples between April and Sept, 1.16M cards at risk http://t.co/jDhJCkf3LC
7 minutes ago
Maine credit unions put Food Mobile on the road to relieving hunger in rural areas http://t.co/R0xpt6BAZE
15 hours ago
.@TheNCUA's Matz: PALS should be exempt from Military Lending Act proposal #NewsNow http://t.co/Vy9uNhOIEr
16 hours ago
#NewsNow Iowa loan growth 3 times national bank rate http://t.co/fUvudPLg5d
18 hours ago
.@ICBA tallies its Home Depot data breach costs: $90M, 7.5M cards http://t.co/iJgRDC2AKZ
20 hours ago