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
Of $1.3B in payments through mobile devices, 90% occurred at @Starbucks stores http://t.co/MN49JR1NXK
13 hours ago
.@LoveBethpage 1st to launch mobile debit/credit card control from @COOPFS http://t.co/kuq7onGuai
14 hours ago
A booming W Okla county gets its first #creditunion @TheHEFCU See #NewsNow http://t.co/svTyMnms0X
16 hours ago
Mortgage interest rates continue slide in September @FHFA http://t.co/agU9RJW5Kq
18 hours ago
Reimagined branches shift to member, not #creditunion, needs: @cunacouncils white paper http://t.co/lN2mu0IVar
19 hours ago