Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
NBC affiliate discusses using CUs vs. banks
EVANSVILLE, Ind. (4/15/09)--A local NBC affiliate, 14 WFIE, asks the question, "Should you use a bank or a credit union?" and credit unions received several positive comments. The article quotes Todd Mark with the Consumer Credit Counseling Service, who notes that it’s a fundamental financial decision. He points out that banks are for profit and credit unions are owned by their members. "They're not looking to turn that profit for shareholders. It's going back to you as a member," he said. The station also interviewed credit union members Chasity Crawley, who used her credit union to buy a car because it had a cheaper interest rates, and Birdie Reyes, who said she earns more on her savings accounts. The recent average rate on a bank savings account was 0.36%, while it was 0.54% at credit unions, the station said. The differences add up, especially with big purchases, Mark said. The only positive thing mentioned about banks was convenience in number of branches and ATMs, but the article also pointed out that credit unions are joining ATM networks. For more, use the link.
Other Resources

RSS print
News Now LiveWire
12,000 cards: That's how many @OneNevada has reissued after #HomeDepotBreach via @reviewjournal http://t.co/8nKE1ZByvM
7 minutes ago
In #NewsNow today: Cincinnati CUs turn spotlight on their heavy reg. burden http://t.co/lb48d3TXun
20 minutes ago
#iowa governor's fin. lit. report includes #creditunion foundation input http://t.co/aBfvd8y3tv
21 minutes ago
.@CUNA urges #creditunions to track costs related to #HomeDepotBreach for upcoming survey See #NewsNow http://t.co/NYP5smSppK
1 hours ago
Learn how to stay competitive with new research blog from @CUNA's econ/statistics dept in Wed's #NewsNow
15 hours ago