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Dump that sucker for a CU says ICBS MoneyWatchI
SAN FRANCISCO (5/10/10)--CBS MoneyWatch has the latest media report of customers' dissatisfaction with banks and their migration toward credit unions. In a segment entitled, "Hate Your Bank? Dump That Sucker for a Credit Union!" MoneyWatch (April 26) asks in its online blurb for the video: "Are you sick and tired of the shenanigans? Don't want to play the games anymore? Then break up with your bank and join a credit union." In the video, MoneyWatch's editor-at-large, Jill Schlesinger, reports, that Seth Rosenblatt, a customer at Washington Mutual Bank when it collapsed a year and a half ago, was "so outraged he gave up on banks altogether and joined a credit union." Rosenblatt tells why he joined--he didn't want his money to be part of banks' shenanigans. Schlesinger reports that credit unions are seeing "their fastest growth in seven years due to public dissatisfaction with big banks." She lists the benefits of joining a credit union, compares rates on new car loans (4.82% at credit unions and 6.08% at banks). In the segment, Nate Burns of San Francisco-based Patelco CU, notes that "We pay attention to the members...they're not just a number." Schlesinger concludes that "credit unions offer a viable alternative" for consumers who want to break up with their bank. To view the video, use the link.
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