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
CUs a topic on AOLs IWalletpopI
NEW YORK (4/28/10)--AOL's Walletpop Tuesday featured an article that tells why credit unions are "the good guys" and banks aren't, and directs readers to Credit Union National Association's (CUNA) website as the key source to find out about credit unions. The article, "Should You Join a Credit Union? Here's What You Need to Know," was written by Geoff Williams, co-author of Living Well With Bad Credit. The article asked the question "what makes credit unions so wonderful?" Credit unions are nonprofit, noted Glen Lazovick, senior vice president of business development and marketing, Mid-Atlantic FCU, Germantown, Md. Credit unions are local and therefore accountable, said consumer/credit union advocate Remar Sutton. They don't make "opportunity profits," he told the publication. And, "a bad credit union is better than the best bank," he said. Credit unions are more willing to work with members and offer back up options so members can avoid fees and penalties on nonsufficient funds, said Amy Stanton, assistant vice-president, Connex CU, North Haven, Conn. The number of ATMs available was seen as a major drawback, but credit unions are engaged in partnerships to create ATM networks, said Williams, who added that "it's pretty hard to come up with a significant drawback to banking at a credit union." The article also noted credit unions have federal insurance. And it suggested going to the CUNA website or a state league website to locate a credit union. The National Credit Union Administration site is a "good follow up" for those interested in checking a credit union's financial performance, it said. For the entire article, use the link.
Other Resources

RSS





print
News Now LiveWire
What role are #creditunions playing in @gatesfoundation's 2030 vision of financial services? Read #NewsNow Monday
11 hours ago
Consumers fear inaccurate info lingers on credit reports, says @FTC study Read @CUNA's News Now: http://t.co/RzNLMnaROO
13 hours ago
@PCUA has formed a @LinkedIn networking group for former bankers turned #creditunion employees.
13 hours ago
.@politico reports Democrats haven't picked the city yet, but their 2016 convention will be held the week of July 25.
13 hours ago
.@cuna, @DCUC_HQ urge @CFPB to exempt #CUs from changes to Military Lending Act rules cuz CUs aren't part of the targeted problem. NN Monday
15 hours ago