Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
IHuffington Post I writer Worst CU better than best bank
WASHINGTON (3/18/09)--The worst credit union is better than the best bank when it comes to pricing loans and other products, according to an article in Huffington Post (March 17). That's a fact, says consumer advocate Remar Sutton, who wrote the item in response to an article that asked, "Why aren't credit unions taking advantage of the moral mess banks are drowning in?" The real question should be: "Why aren't you joining a credit union right now?" said Sutton, former Credit Union Magazine columnist on auto lending and author of Don't Get Taken Every Time. Credit unions feel obligated to find members the cheapest product rather than the most expensive, he says, adding, "You cannot say that about virtually any bank and definitely not about any for-profit 'specialty' loan company." Credit unions know the financial well-being of the member has a direct impact on the well-being of the credit union. he says. Credit unions aren't reacting as a group to the bank crisis for "a very charming reason. They aren't slick marketers on the whole," Sutton says. Small credit unions have smaller marketing budgets that are targeted to their members, not the general public. And some are involved in the most important aspect of recovery from the economy--teaching young people about money and the realities of the free enterprise system. To read the entire article, use the link.
Other Resources

RSS print
News Now LiveWire
.@TheNCUA open board meeting starts at 10 a.m. ET tomorrow. It is board member J. Mark McWatters' first. Watch @NewsNowLiveWire
3 hours ago
.@CFPB is proposing to oversee larger nonbank auto finance companies for the first time at the federal level.
3 hours ago
.@CUNA's Bill Hampel moderates a discussion on the future of credit unions in the post-100 million member world. http://t.co/kcXykiRQVn
6 hours ago
#Breaking: QE likely to end next month, @federalreserve says #NewsNow #Market http://t.co/u7Fb5l5fwM
6 hours ago
.@Experian study confirms that building a credit history is beneficial to financial marginalized communities. 64M are "credit invisibles"
6 hours ago