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
IWall St. JournalI CUs are federally insured option
NEW YORK (10/2/08)--The Wall Street Journal's personal finance page notes that depositors who want options to the big blockbuster bank consolidations can shop for savings at credit unions and community banks as federally insured options. In "As Big Banks Converge, Depositors Find Deals at Smaller Institutions," the newspaper notes community banks and credit unions offer generous yields and lower fees for local savers (The Wall Street Journal Oct. 1). With competition shrinking with blockbuster acquisitions of the past week, "there are plenty of options for rate-sensitive depositors and borrowers," including credit unions, the article said. The article recognized that credit unions have largely sidestepped the subprime crisis because of conservative underwriting. They "often offer generous rates and low fees. And deposits are insured for up to $100,000, per account, per institution, just like regular bank accounts," it said. Some credit unions are receiving new deposits from former Wachovia and other large bank customers, the Journal said.
Other Resources

RSS





print
News Now LiveWire
Maine credit unions put Food Mobile on the road to relieving hunger in rural areas http://t.co/R0xpt6BAZE
6 hours ago
.@TheNCUA's Matz: PALS should be exempt from Military Lending Act proposal #NewsNow http://t.co/Vy9uNhOIEr
6 hours ago
#NewsNow Iowa loan growth 3 times national bank rate http://t.co/fUvudPLg5d
9 hours ago
.@ICBA tallies its Home Depot data breach costs: $90M, 7.5M cards http://t.co/iJgRDC2AKZ
10 hours ago
.@icul's Jury elected treasurer of @WOCCU exec committee http://t.co/HEF1UChN8f
11 hours ago