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IL.A. TimesI A CU might be your best bet
LOS ANGELES (6/29/10)--Consumers who are tired of large banks should check out credit unions, the Los Angeles Times said Sunday. “If you're a regular consumer seeking an alternative to the big banks, a credit union might be your best bet,” wrote E. Scott Reckard in an article titled, “Dumping your big bank? How to choose a new one.” “Consumer banking is what credit unions do,” Edward J. Carpenter, an Irvine, Calif., investment banker who has advised hundreds of start-up banks, told the Times. The article mentioned the situation of a Los Angeles area couple--Mark and Roberta Maxwell--who left their bank, the former Washington Mutual, which was taken over by Chase. The Maxwells moved their account last year to Musician’s Interguild CU, Los Angeles, because the bank assessed too many fees and lost its personal touch, they told the newspaper. “Even in online banking, which is dominated by large banks, a survey this year awarded the highest satisfaction ratings to credit unions,” the paper said. The article also noted that credit union members can access 25,000 surcharge-free ATMs nationwide. To read the article, use the link.
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