A cure for bankers' tricks? Try CUs, say columnists

PITTSBURGH (10/9/06)--Consumers can find deals in selecting their financial accounts if they turn to credit unions, according to syndicated columnists Alan Lavine and Gail Liberman.

Their column in the Friday issue of Pittsburgh Post Gazette discusses the difficulty of finding the right financial account for one's financial "style" because of hidden bank fees.

Banks charge fees "if your balance drops below a monthly minimum or for a copy of a check. Bounced check fees can be another painful surprise," Lavine and Liberman write.

"Somehow, we regret to report, it's tough to find all-around good deals at banks with no hidden surprises," they said, adding that "banks also are pulling these same 'style' tricks with credit cards.

"Why can't banks simply play it straight and offer good deals that are easy to understand? What happened to the days of great service and efforts to keep customers happy?" they ask.

The article provides tips for finding deals in banking. Among them:

"Credit unions are not-for-profit and often have better deals than banks. You can find a credit union you may be eligible to join at www.cuna.org. Click on the 'visit our credit union locator.'"

It also notes that while credit unions and smaller institutions might not have as many ATM branches as the large commercial banks, some "promise free access to ATMS and/or rebates of ATM fees."

The writers said they hope that "banks finally get the message that what we truly want--regardless of our banking 'style'--are simple-to-understand, low-priced accounts coupled with great customer service and no hidden surprises."

Lavine and Liberman are spouses and authors of Rags to Retirement.

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