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
IHuffington Post I writer Worst CU better than best bank
WASHINGTON (3/18/09)--The worst credit union is better than the best bank when it comes to pricing loans and other products, according to an article in Huffington Post (March 17). That's a fact, says consumer advocate Remar Sutton, who wrote the item in response to an article that asked, "Why aren't credit unions taking advantage of the moral mess banks are drowning in?" The real question should be: "Why aren't you joining a credit union right now?" said Sutton, former Credit Union Magazine columnist on auto lending and author of Don't Get Taken Every Time. Credit unions feel obligated to find members the cheapest product rather than the most expensive, he says, adding, "You cannot say that about virtually any bank and definitely not about any for-profit 'specialty' loan company." Credit unions know the financial well-being of the member has a direct impact on the well-being of the credit union. he says. Credit unions aren't reacting as a group to the bank crisis for "a very charming reason. They aren't slick marketers on the whole," Sutton says. Small credit unions have smaller marketing budgets that are targeted to their members, not the general public. And some are involved in the most important aspect of recovery from the economy--teaching young people about money and the realities of the free enterprise system. To read the entire article, use the link.
Other Resources

RSS





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