MADISON, Wis. (7/1/10)--Bloggers for U.S. News and World Report
magazine, as well as a CNNMoney.com
item and a segment on a 24-hour news channel in New York, all posted articles extolling the virtues of credit unions Tuesday. The four media hits include:
* Alpha Consumer, the U.S. News and World Report money blog. Blogger Kimberly Palmer noted her bank is ending its free checking accounts and suggested consumers shop around for the best options on fees. She quoted Bargaineering.com, which said that "consumers might also want to take a closer look at credit unions" for lower fees. The story pointed readers to websites to locate a credit union, including findacreditunion and the Credit Union National Association (CUNA) website. The article also appeared on Yahoo! Finance. * Time's money blogger, Brad Tuttle, who wrote that overdraft fee restrictions and tightened credit card regulations have prompted banks to start charging more fees. "But consumers shouldn't roll over and give up on free checking just yet," he said, noting "plenty of resources" to assist in switching to financial institutions that still offer free checking. He referred to a recent Los Angeles Times article, "Dumping your Bank? How to find a new one," which made the case for doing business with credit unions. * CNNMoney.com article Wednesday on "Spending smart when the euro is cheap." Consumers traveling on the continent and wanting to save on credit card fees can avoid paying transaction fees with a low-fee card. "Credit unions and niche banks often levy lower fees..." said the author, Veronica Crews. * NY1.com, New York City's 24-hour newschannel on the Web, which featured "Credit Unions Offer Intimate Alternative to Big Banks." Writer Shazia Khan said that "for some, a credit union beats out a bank as the right solution for one's financial needs." The segment discussed the benefits of membership and noted credit unions' low or no minimum checking and savings accounts. "While it is always good to compare fees and interest rates, they tend to be more agreeable at credit unions," said the article.
For the full articles, use the links.