Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Personal finance guru lauds CUs
MADISON, Wis. (4/23/09)--Credit unions are safe and practice excellent customer service, said Dave Ramsey, a personal finance expert with Gatehouse News Service, in a response in his column to a reader’s question. “Considering the current state of the economy, [my husband and I] were wondering if a credit union would be a safer place than a traditional bank for some of our savings?” a reader asked (Norwich Bulletin.com April 22). Ramsey said that the National Credit Union Administration increased insurance coverage limits for deposits in 2008, just as the Federal Deposit Insurance Corp. did for banks. “The biggest thing you want to look at is the ‘hassle factor’ if your institution goes broke and closes up shop,” Ramsey wrote. “I haven’t done business with big banks for years, primarily because of the awful customer service you get at most of them. I like local, community banks, and I believe whole-heartedly in credit unions. As a rule, these institutions practice excellent customer service. Plus, most of them didn’t get mixed up the sub-prime debacle. “Community banks and credit unions are both safe, and in most cases, they’re both fabulous places to put your money,” he concluded.
Other Resources

RSS print
News Now LiveWire
NCUA re-schedules start of tomorrow's closed meeting to 9 a.m. ET. Open meeting still at 10 a.m. ET.
6 hours ago
.@lisamurkowski @SenatorEnzi @SenJohnBarrasso are latest to weigh in on NCUA risk-based capital proposal. See #NewsNow tomorrow for more
7 hours ago
Now up on News Now: Fed stays course on taper, interest rates http://t.co/6DntsW58vA
9 hours ago
Positive performance indicators and the potential for rising interest rates in @TheNCUA 's latest economic update. http://t.co/yptPbIGvnU
11 hours ago
The @CFPB has launched a nationwide effort to provide financial education. http://t.co/sF3FXHpv3k
12 hours ago