NEW YORK (10/8/08)--Credit unions are on "high ground" in the economic hurricane, according to MarketWatch writer Jennifer Openshaw.
"[With credit unions] you can sleep at night, often with better rates and a better experience to boot," she wrote (MarketWatch Oct. 6).
Credit unions' not-for-profit status, self-funding, deposit insurance and better rates are just some of the reasons to join a credit union, according to Openshaw.
She also cited some Credit Union National Association statistics: 70% of loans are funded through a credit union's own deposits, and 0.7% of credit unions' mortgage loans were delinquent in July compared with 9% of mortgages in the industry overall.
"[Credit unions] don't buy loans from other institutions either--that's another 'sleep well at night' factor," she said.
courtesy of cuna.org