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
Georgias Mercer advises readers on managing card debt
DULUTH, Ga. (2/18/10)--While the new Credit Card Accountability, Responsibility and Disclosure Act of 2009 going into effect Monday will bring some changes to the credit card landscape, consumers still need to be fiscally responsible and look for the best card deals, said a Georgia credit union official. “Unfortunately there’s no magic formula to make bad debt go away or keep people from overspending,” Mike Mercer, president/CEO of Georgia Credit Union Affiliates, said in the Savannah Morning News Wednesday. “My advice today is the same as it would always be: make payments on time, pay more than the minimum, and shop around for the best rates,” he added. “There’s really no way around it,” said Mercer. “We just have to live within our means, and we can’t be reckless with credit.” Credit unions historically have lower interest rates because as nonprofits they have no incentive to make large profits, he added. To read the article, use the link.
Other Resources

RSS





print
News Now LiveWire
Middle-class families walking a tightrope with little savings @pewresearch HT @CNNMoney http://t.co/Pfu2KHASZa
36 minutes ago
.@CUNA's @SchenkMike on @federalreserve meeting: http://t.co/Ry39vjWdA1
58 minutes ago
#creditunion cites prize-linked savings success in @WSJ http://t.co/3CXupUMx5d
3 hours ago
.@CFPB proposes mtg rule changes 2 facilitate responsible lending by small creditors, esp. in rural/underserved areas.http://t.co/sn6PnlS0EB
4 hours ago
#NewsNow Apple Pay interest booming at CUs, Western Union joins http://t.co/LsaoOYzAPx
6 hours ago