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News Now

CU System
Media Bust those bank fees move to a CU
FRAMINGHAM, Mass. (1/6/11)--Media coverage of new charges by banks trying to recoup revenues they'll lose under new regulations includes this advice to consumers: Move their accounts to credit unions. The latest article is "Bust your bank fees," in WickedLocal.com (Jan. 4), which published a syndicated article by GateHouse News Service. It notes that new regulations make it harder for banks to hit customers with overdraft fees and that banks have created or reinstituted charges on consumers' monthly statements. (See related article in News Now's "News of the Competition.") In the article, personal finance blogger Jeffry Strain of SavingAdvice.com offered consumers tips to avoid the bank fees, and No. 1 on the list: "Move your account to a credit union." "Credit unions generally have lower fees, better service and lower minimum balance requirements for checking accounts," said the publication. The item has been published in a number of media outlets, including The Patriot-Ledger, Norwich Bulletin, and the Utica Observer-Dispatch. Use the link to access the article


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