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
.@TheNCUA open board meeting starts at 10 a.m. ET tomorrow. It is board member J. Mark McWatters' first. Watch @NewsNowLiveWire
11 hours ago
.@CFPB is proposing to oversee larger nonbank auto finance companies for the first time at the federal level.
12 hours ago
.@CUNA's Bill Hampel moderates a discussion on the future of credit unions in the post-100 million member world. http://t.co/kcXykiRQVn
15 hours ago
#Breaking: QE likely to end next month, @federalreserve says #NewsNow #Market http://t.co/u7Fb5l5fwM
15 hours ago
.@Experian study confirms that building a credit history is beneficial to financial marginalized communities. 64M are "credit invisibles"
15 hours ago