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CUs can offer better rates than banks on auto loans savings
DALLAS (4/10/09)--Credit unions can offer their members better rates on savings accounts and auto loans than commercial banks, according to a DFW news story in Dallas. The NBC affiliate compared credit unions with banks to see which is a better deal for consumers. On average, credit unions offer 5.38% interest on four-year auto loans, compared with 6.68% with banks. Credit unions also offer an average of 0.54% return on savings, compared with 0.36% at banks. “The differences may seem small, but can add up,” the news outlet said. DFW advised consumers to get to know someone at their financial institutions so that they can have someone to turn to when they need help. To see the video of the news story, use the link.
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