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CUNA tells IBankrateI who can join a CU
MADISON, Wis. (4/26/10)--Consumers looking to join credit unions can do so through more avenues than most think, the Credit Union National Association (CUNA) told Bankrate.com Friday. The article, titled “Can you join a credit union?” mentions that while the majority of Americans obtain access to a credit union through their employers, there are other ways to become a member. “Out of the 8,000 credit unions, almost 25% are community-based,” Jim Hanson, CUNA vice president of personal finance, told Bankrate. “The vast majority of consumers, especially in large communities and cities, have an opportunity to join a credit union.” Churchgoers are eligible to join their church credit union, as are students and faculty of a college or university. At some credit unions, such as the University of Wisconsin’s credit union, you only need to have taken one class to become a member, Hanson said. “It’s not that hard to get into a credit union,” he added. Credit unions offer the full gamut of financial services from savings accounts to automobile loans, are attractive to consumers because they offer competitive rates on loans and have money to put to work, Bankrate said. “Credit unions have enjoyed a nice spurt in growth since the financial crisis and are flush with cash and want to make loans,” Hanson told Bankrate. To read the article, use the link.
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