Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
IUSA TodayI CUs a good place for consumer savings
MADISON, Wis. (7/21/08)--With ongoing economic turmoil and problems with some financial institutions, many people are wondering where the best place is to put their savings. USA TODAY personal finance columnist John Waggoner, mentioned credit unions as a viable option Friday in his column. Waggoner spoke with Bill Hampel, chief economist at the Credit Union National Association (CUNA), before he wrote the column, “Where can you stash your cash,” which dealt with options for consumers trying to safely save in difficult financial times. Often, credit unions will pay higher yields because they are non-profit organizations that don’t pay federal taxes, Waggoner noted. Credit unions’ deposits also are federally insured, he added. In other news, Hampel appeared on FOX News Friday. "Credit unions are very safe and sound," he told the news outlet. "Depositors have nothing to worry about." Loss rates at credit unions also are very low, he added. "You can count on one hand the number of credit unions that will likely fail," he said. To see the video, use the link.
click to view the video Click to view the video
Other Resources

RSS print
News Now LiveWire
Decades-high number of #VA loans boost housing #market #NewsNow http://t.co/RhGPMs0w9e
31 minutes ago
85% of members for 100% safe with their #creditunion, says @fileneresearch study. See #newsnow http://t.co/a3deRHSp5x
37 minutes ago
Goodwill Industries latest to report data security breach http://t.co/gIaXNsT4Bk
17 hours ago
CUNA economist Schenk discusses regulators' focus on interest-rate risk. See CU Magazine: http://t.co/tW1p9rTSSv
19 hours ago
Fed issues annual report on general-use prepaid cards in gov't-administered payment programs. http://t.co/3zPhejSPZt
19 hours ago