July, 2013

Credit unions offer members cost saving alternatives

Wisconsin Credit unions-making life easier for members

Because credit unions are member-owned financial cooperatives, they do what's best for their members when times are tough by:

Offering free checking
The majority of credit unions offer free checking, despite the impact of increased costs.

Providing no-fee ATMs
Credit unions have the largest ATM network in the United States and have over 30,000 ATMs that don't charge our members fees.

Putting people before profits
The smallest "profitable" loan, according to the Federal Reserve, is $2,400, but credit unions give out loans for amounts as low as $500.

 

Did you know that Wisconsin credit unions:

  • Saved Wisconsin consumers nearly $1 billion since 2007, by providing lower rates on loans, higher interest rates on savings and lower and fewer fees.
  • Save bank customers tens of millions of dollars annually because of the healthy competition that keeps bank fees and rates in check.
  • Saved Wisconsin members $134 million by refinancing loans and helping them take advantage of our low rates in 2012, alone.

  • Save Wisconsin members $107 million in loan interest in 2012 due to higher rates on savings and fewer fees.

 

 

 

 

Find more information online!

Click here for more resources from The League

Click here to view videos of credit union members explaining our REAL Solutions initiative

View our Scorecard, which details how credit unions deliver value to their members.

Tom Liebe, Vice President of Government Affairs
(608) 514-0082 • tliebe@theleague.coopwww.theleague.coop
Credit Union House: 1 East Main St., Suite 101, Madison, WI 53703-5109