Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
Free Checking? It's CUs Hands Down--More Media Coverage
MADISON, Wis. (3/21/13)--More media outlets are reporting on the Bankrate.com survey released earlier this week. The survey indicated credit unions are consumers' best chance--hands down--of finding a free checking account.

News Now reported on the survey Tuesday in an article, "CNNMoney: CU Is 'Best Bet' For Free Checking."

"You want free checking account with no strings attached? You're not likely to find it at a bank," said ConsumerAffairs in a Tuesday article. "According to Bankrate.com's  2013 Credit Union  Checking Survey, 72% of America's 50 largest credit unions offer them, compared with 39% of banks."

Commenting on the same survey, The New York Daily News Monday focused on the statistic that free checking at banks is a "dwindling perk"--down to 39% now from 65% in 2010.  Meanwhile, 96% of credit unions surveyed by Bankrate offer free checking accounts or accounts that can become free if members agree to use services such as direct deposit or e-statements offered at the credit union.

"Not much is free these days--but there's a good chance you will find free checking if you go to a credit union," the Daily News said.  The newspaper added: "How can credit unions afford to hand you this perk, even as banks' fees are on the rise? Banks are looking to make up for billions of dollars in annual lost revenue as a result of regulations imposed in recent years. Because credit unions are not-for-profit institutions, they are not driven by improving their own profits and therefore can often offer their [members] better terms."

In Tuesday articles about the Bankrate survey, the Deseret News and WWLP.com also noted that more credit unions than banks offer free checking.

To read the articles, use the links.
RSS





print
News Now LiveWire
Consumer spending is slumping #Market #Economy http://t.co/RI4HS68IuJ
10 hours ago
April is #NationalFinancialLiteracyMonth & @TheNCUA Chair Matz urges #creditunions to help members learn to manage/protect their finances.
11 hours ago
Fed. FI regulators' statmnts on compromised credentials/destructive malware #cybersecurity http://t.co/f4uTBDm1PU http://t.co/zP5Iw6VxZc
13 hours ago
Home prices rising faster than wages: @RealtyTrac #NewsNow #Market http://t.co/wa74mnw3Cu
14 hours ago
.@Nussle dropped by the @ACUMuseum recently. Read about his visit http://t.co/bYe8RRgYLP
15 hours ago