CUNA News Now: <I>USA Today</I> headline on savings rates: Consider a CU

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WASHINGTON (4/2/08)--Consumers looking to generate better savings rates should join a credit union, USA Today Tuesday advised in an article, "Shopping for decent savings rates? You might consider a credit union."

The newspaper encouraged consumers looking to join a credit union to contact the Credit Union National Association (CUNA). Credit unions have fields of membership defined by region, geography, or place of employment, the newspaper stated.

USA Today also interviewed CUNA CEO Dan Mica, who said credit unions offer lower interest rates than banks on credit cards, car loans and mortgages. Credit unions also often charge fewer ATM withdrawal fees.

Credit unions have lower operating costs. They also are member-owned, and they don't have to earn revenues to please shareholders, Mica told the newspaper.

The article also recognized that some accountholders want to ensure that their deposits are safe. Credit unions are backed by the National Credit Union Administration (NCUA). If a credit union fails, the NCUA will find another credit union to manage the accounts or liquidate it. When a credit union is liquidated, members generally receive their money in three days, Mica told USA Today.

Though many credit unions are federally insured, some are insured privately. Credit unions backed by the federal government have the NCUA logo displayed in their offices, the newspaper stated.



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	News Now LiveWire Most CUs will provide wage increases for at least some of their employees, according to CUNA's just-released Small CU Staff Salary Survey. 12 hours ago St. L Post Dispatch on GAO report:Consumers may not benefit from altering Interchange system;would cut card competition. http://ow.ly/ETyX 13 hours ago CUNA's Hampel: Consumer holiday spending will be up slightly from last year. See Tues NN. 17 hours ago NCCUL and WOCCU met with Romanian CUs this week. The CUs are experiencing growth and want to increase their public relations efforts. 4 days ago Kent Buckham has been named by NCUA as director of the newly created Office of Consumer Protection. The 7-person dept. launches in Jan. 4 days ago Sign up; more tweets... USA Today headline on savings rates: Consider a CU WASHINGTON (4/2/08)--Consumers looking to generate better savings rates should join a credit union, USA Today Tuesday advised in an article, "Shopping for decent savings rates? You might consider a credit union." The newspaper encouraged consumers looking to join a credit union to contact the Credit Union National Association (CUNA). Credit unions have fields of membership defined by region, geography, or place of employment, the newspaper stated. USA Today also interviewed CUNA CEO Dan Mica, who said credit unions offer lower interest rates than banks on credit cards, car loans and mortgages. Credit unions also often charge fewer ATM withdrawal fees. Credit unions have lower operating costs. They also are member-owned, and they don't have to earn revenues to please shareholders, Mica told the newspaper. Credit unions also are not subject to federal income tax, the paper said. The article also recognized that some accountholders want to ensure that their deposits are safe. Credit unions are backed by the National Credit Union Administration (NCUA). If a credit union fails, the NCUA will find another credit union to manage the accounts or liquidate it. When a credit union is liquidated, members generally receive their money in three days, Mica told USA Today. Though many credit unions are federally insured, some are insured privately. Credit unions backed by the federal government have the NCUA logo displayed in their offices, the newspaper stated. Resource Links USA Today article Keep the Difference: Credit Union Fees vs. Bank Fees Why You Should Belong to a CU CUs in the Media More CU/System
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