MADISON, Wis. (9/16/08)--Two more publications--TheStreet.com and Los Angeles Times--have joined the ranks of those suggesting that consumers try a credit union.
In Friday's TheStreet.com, an article, "Credit Unions Take on Big Banks," notes that many banks are hiking fees to make up for billions of dollars in losses.
"Credit unions, having escaped the financial crisis, are chipping away at their larger rivals' customer base," says the article. "They offer what most consumers need: good rates, low risks and personal service."
The article provides a list to consider when switching to a credit union: membership criteria, not-for-profit status, interest rates, fewer options for services and competitive advantages.
In Sunday's issue of the Los Angeles Times, Liz Pulliam Weston's "Money Talk" column addresses a question from a reader about paying off student loans with low-interest credit cards.
"Is this a smart move for the private loans? If so, how would I find such an offer? (Perhaps through a credit union?)," asks the reader. Pulliam's discussion about card rates includes: "Check your local credit union, because credit unions often offer good rates."
courtesy of cuna.org