NEW YORK (12/18/08)--Credit unions received a positive mention from CBS News Tuesday night during a story that aired about credit card practices.
CBS interviewed a consumer whose Bank of America credit card's interest rates ballooned, even though she told CBS that she pays all of her bills on time. The card's rate jumped because the rate the consumer had on another card increased.
Frustrated, the consumer closed her Bank of America account and joined Ascend FCU in Tullahoma, Tenn., where CBS said "she has a voice in making the rules."
Ascend FCU has $1.142 billion in assets.
To watch the video, use the link.
courtesy of cuna.org