Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Consider CU to avoid checking account fees--IUSA TodayI
NEW YORK (6/30/10)--Consumers worried about new checking account fees can take several steps to avoid them. One step: consider opening an account at a credit union. So says USA Today columnist Sandra Block in her Your Money column. Entitled "How to steer clear of checking account fees on the horizon," the article notes that it has been years since consumers have had to worry about checking account fees. Most financial institutions offered free checking that was subsidized by overdraft coverage fees and revenues from interchange fees paid by retailers for their customers' use of debit cards. But with overdraft and interchange regulations on the horizon, "this means banks are looking elsewhere for revenue," said Block. She noted recent disclosures by Wells Fargo and TCF Financial of plans to start charging fees for customers under the minimum balance required. In telling consumers to consider credit unions, Block cites a Bankrate.com survey that found 39 of the 50 largest credit unions offer free checking. Only three require a minimum balance to avoid a checking fee. For the full article, use the link.
Other Resources

RSS





print
News Now LiveWire
#NewsNow: @CUNA-CFA survey results suggest 3-3.5% increase in holiday spending. http://t.co/GjcDvvwfzy
16 hours ago
.@WOCCU promoted financial inclusion as a sustainable development goal at two separate @UN events this month.
17 hours ago
Colo. authorities OK first-ever #marijuana-focused CU #NewsNow http://t.co/77qj6O3bcu
17 hours ago
.@Vancity busts some Black Friday retail myths http://t.co/q8Wht3CcRc
17 hours ago
Things get hairy at #creditunions during #Movember http://t.co/Hc6tYRMSY8
19 hours ago