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
Ex-Chase exec Raphaelson cites CUs better fees
CHICAGO (2/28/12)--Options, including credit unions, abound for consumers  with different banking needs, according to syndicated personal finance columnist Elliot Raphaelson, a retired Chase Bank vice president and author of two books on fiancial and retirement planning.

"Fortunately, we have many more options than we did even a few years ago, thanks to such innovations as online banking," he says in his "The Savings Game" column (Wisconsin State Journal Feb. 26).

While most of the options listed are banks, Raphaelson  devotes three paragraphs to credit unions in his column. He notes that "credit unions generally offer lower fees, lower loan rates, and higher interest rates on deposits than the competition. They are able to do this because, as nonprofits, they have a tax advantage over banks. Some credit unions provide various services by volunteers, which also gives them a competitive advantage."

"Although some credit unions have restrictions regarding membership, in most areas you will be able to find a credit union to join," he writes, noting that several years ago when he bought a new car, "I used a local credit union that offered the best rate."

He advises readers to go to the Credit Union National Association (CUNA)  and points readers to CUNA's website.

Use the link to read the full article.
Other Resources

RSS





print
News Now LiveWire
Registration now open for @CUNA @WOCCU summer conference in Denver July 12-15 http://t.co/opq1jypsXL #ACUC #CUinDenver2015
7 hours ago
Emergency loans post- #Blizzard2015 offered by @ScientFCU in Conn. http://t.co/U9tIBzPOZV
8 hours ago
Did you get your spot in the @CUCB #CherryBlossom 10 Mile Run? Check lottery results here http://t.co/6rxT0osyWJ @CU4Kids @CMNHospitals
8 hours ago
@FamilyFirstFCU has implemented a grant program through the FHLB of NY to help first-time home buyers.
9 hours ago
#BREAKING: @federalreserve offers few new hints on rate-hike timing in policy statement http://t.co/lgZ6zZ1Vrr
9 hours ago