NEW YORK (9/11/08)--Credit unions can help during the credit crunch, but they are often overlooked by Americans--especially young adults--who need help saving money, according to Bankrate.com. Young adults often have a hard time getting credit because they don’t have a credit history or their incomes are low, Mike Schenk, vice president of economics and statistics at the Credit Union National Association (CUNA), told Bankrate (Sept. 10). The credit crisis has caused many lenders to tighten their standards, making it more difficult for young people to obtain credit, he added. Credit unions looking to attract young adults should note that young adults are interested in online banking, mobile banking, and ATM conveniences, Josh Jones, CUNA manager of young adult programs, told Bankrate. About 68% of credit unions offer online banking and 49% offer electronic bill pay. Many credit unions also belong to a network with surcharge-free ATMs and are less likely to charge for other institutions’ ATM services, Jones added. CUNA’s 2007 Credit Union Profile Report indicate that 99% of credit unions offer certificates of deposit, checking, auto loans and individual retirement accounts, the article said. Credit unions have lower rates on loans, mortgages and credit cards, and pay higher rates of return on savings accounts. On average, credit union members nationwide save $10.9 billion per year--which is about $126 per person or $239 per household, Bankrate said.