Credit Unions in the News
| 7/22/10 |
Credit Union Helps Young People Learn About budgeting
As part of VACU’s continued commitment to financial education, our financial education director hosted a week-long Money Camp to Richmond-area youth to help them learn about budgeting and saving.
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| 6/29/10 |
ABC Advises Consumers to Join a Credit Union
Consumers need to find a way to join a credit union to be able to enjoy all the great resources they offer, said an ABC News correspondent Monday. "I was once again reminded what phenomenal resources credit unions are," said Elisabeth Leamy, ABC News consumer correspondent, in a segment titled, "Save Big Money on Home and Car Loans: Go to Credit Union for Auto Financing."
"Credit union auto financing is generally such a great deal that I'm going to issue a rule here: never shop for a used car at a dealership without first getting outside financing quotes, especially from a credit union," she added.
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| 6/7/10 |
AARP and Consumer Reports Tout Credit Unions
Credit unions are the place to go if you want to move your money, AARP Magazine tells its 47 million readers in its July/August issue. The sentiments are echoed in the July issue of Consumer Reports.
In "The Little Banks That Can," AARP cites "three compelling reasons" to switch: lower fees, higher interest rates on deposits and better service. "As it turns out, you are likely to find all three at some of the smallest financial institutions in the nation: credit unions," says the two-page article.
The article provides several favorable quotes and anecdotes about credit unions. "The average consumer does much better at a credit union than a bank," said Ed Mierzwinski, consumer program director at U.S. Public Interest Research Group. Curtis Arnold, founder of CardRatings.com, a credit card information website, said, "I'm a big fan [of credit unions]. Unlike a lot of banks, most credit unions don't try to cross-sell you products you don't really want."
In Consumer Reports' July issue, "When to Bail on Your Bank" discusses the "Move Your Money" campaign to get consumers to switch from big banks to smaller institutions, including credit unions.
While big banks may have better online banking, "there are great deals at local banks and especially at credit unions," said the article. It cites the benefits of better card rates, higher yields on savings and low rate loans.
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| 5/10/10 |
CBS MoneyWatch advises consumers to join a credit union
CBS MoneyWatch has the latest media report of customers' dissatisfaction with banks and their migration toward credit unions. In the video, MoneyWatch's editor-at-large, Jill Schlesinger, reports that "credit unions offer a viable alternative" for consumers who want to break up with their bank.
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