May 2013

The Jury Is In....Credit Unions Are The Way To Go!

Unlike other financial institutions, credit unions are structured to serve their members and consumers get it! The benefit of the credit union difference continues to be a subject of nationwide of media attention.

What People Are Saying

  • Business Insider compares Banks and CU's on four different fronts: accessibility, checking account fees, interest rates and customer service. Their verdict: "Credit unions are by far the best option for banking today.”
  • The New York Daily News writes, "As fee-weary consumers continue to wake up to credit unions, these alternatives to commercial banks are showing no signs of slowing down." The article highlights a recent Bankrate poll which compares rates between credit unions and banks on six areas. The credit union rates were better in five of the six.
  • The Wall Street Journal explains 590 credit unions offered student loans as of December - an increase of more than 50% since March 2011. They claim this credit union student loan growth “comes at a time when other financial institutions have retrenched.”
  • Foxbusiness.com story notes “credit unions come in all stripes and colors” that can fit consumers’ needs and interests, including:
    • University-tied credit unions that offer membership to current students, graduates, faculty and area residents. Many of these credit unions feature convenient on-campus branches, and help young members establish their credit;
    • Community development financial institutions that aim to serve low- and moderate-income people and can offer affordable mortgages, tax preparation services, or enhanced savings accounts;
    • Credit unions going green and offering paperless statements, loan discounts for high-fuel-economy cars, and green workshops;
    • Religiously affiliated, employer affiliated, or military credit unions.

For more news stories visit http://www.aSmarterChoice.org

View our Scorecard online to find more information on 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