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
IChicago TribuneI CUs an alternative in banks crisis
CHICAGO (11/4/08)--The Chicago Tribune Sunday suggested credit unions as an alternative to banks, especially when it comes to obtaining a loan. Credit unions experienced record lending volume this year, Jay Johnson, executive vice president of Callahan & Associates, told the newspaper. Credit unions experienced a 40% increase in first-mortgage lending compared with last year, while the overall market was down 17%. Credit unions also added 450,000 new members from March to June, Johnson told the newspaper. The Tribune also noted that credit unions:
* Provide lower fees than traditional banks, from ATM to overdrafts; * Offer better rates on certificates of deposit--3.06%, compared with banks’ 2.67% on average; * Take an individual’s character into consideration when lending, and offer payday alternative loans at lower rates than other payday lenders; and * Have federally insured deposits, up to $250,000 per depositor.
Other Resources

RSS





print
News Now LiveWire
Credit card issuers could see a reduced burden for 1 year under a @CFPB proposal issued this week. News Now: http://t.co/CYVXLUmVBq
12 hours ago
RT @CUEscan: Branches Will Be the Cornerstone of Growth http://t.co/fVqPPaGeVL http://t.co/xxMyKGQMrl
12 hours ago
RT @asmarterchoice: According to @Bankrate study, customers more likely to find FREE checking at #Creditunion than a bank! http://t.co/ntCb…
12 hours ago
Ditch monthly subscriptions to save $$, @YoungFreeMI Fielder tells @freep http://t.co/TFnsps4Dui #ASW2015
12 hours ago
.@federalreserve extends comment period for capital surcharges on systemically important U.S. bank holding cos. http://t.co/MOJJBn9DfA
14 hours ago