Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
IBuffalo NewsI Many prefer CUs to banks
BUFFALO, N.Y. (5/5/09)--Many consumers prefer credit unions to banks, according to The Buffalo News (May 4), which says attractive rates and friendly service are helping credit unions to grow. The article explains credit unions' history. In it, Patrick Keefe, vice president of communications at the Credit Union National Association, explains the structure and philosophy of credit unions. "Every saver in the credit unions owns the credit union, and it doesn't matter the amount they have in a credit union. Everybody has an equal share," Keefe told the publication. "Credit unions are democratically elected, volunteer-led, cooperatively owned and not-for-profit," Keefe noted. "That doesn't mean that credit unions do no realize a net return after paying all their bills. The real difference is a bank exists to maximize profit for shareholders. Credit unions exist to maximize service for members." The article makes mention of area credit unions such as Buffalo Metropolitan FCU, Buffalo Postal Community FCU, St. John Buffalo FCU, Cornerstorne Community FCU, and Kenmore N.Y. Teachers FCU. The newspaper article also discusses credit unions' focus on members, their difference from banks and the fact that credit unions are gaining momentum by improving their accessibility. For the entire article, use the link.
Other Resources

RSS





print
News Now LiveWire
Matz: Revised @TheNCUA #RBC rule for #creditunions 2 B unveiled 1/15/15, 90-day comment period to follow #newsnow http://t.co/qABhvghSTU
1 Day ago
Just announced: @TheNCUA board will consider a revised risk-based capital rule at its Jan 15 mtg. See #NewsNow Monday for more info.
1 Day ago
Nearing one-yr anniversary of data breach, @Target asks for class action suits to be dismissed via @BloombergNews http://t.co/kra6kupd35
1 Day ago
.@PeoplesTrustFCU has been recognized with the Juntos Avanzamos designation by @Cornerstone_CUL for its service to the Hispanic community
1 Day ago
#NewsNow: Rep. Hensarling names #HFSC subcommittee chairs. http://t.co/dXAMZdpn1p
1 Day ago