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CU System
CUNA cites rates in articles picked up by media
MADISON, Wis. (7/7/11)--Credit unions offer better interest rates than banks, the Credit Union National Association (CUNA) said in an article that was picked up by several newspapers nationwide. The article, “Shoestring Living: Banks vs. Credit Unions,” which was distributed by Gatehouse News Service, discussed some of the general differences--nonprofit, member-owned--between credit unions and banks. The last point of comparison concerns interest rates. “It all boils down to dollars and cents, doesn’t it?” the article said. “According to the Credit Union National Association, loans through credit unions have lower interest rates than banks across the board, while credit unions boast higher savings-related interest rates.” The article mentioned that credit unions now can compete with banks on programs for online bill pay, child and teen banking, and special savings accounts--such as those for holiday savings and high school prom.


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