MADISON, Wis. (5/20/10)--Several recent media reports say credit unions are where consumers should go for small-business lending, credit cards for college students and free checking. The reports included:
* An op-ed column in the Toledo Blade Tuesday about member business lending written by Beth Carpenter, president of the Northwest Chapter of the Ohio Credit Union League. To address the lack of credit available to small businesses in Ohio, Carpenter said lawmakers in Washington, D.C., should pass legislation that would increase the lending authority of credit unions. “Credit unions are well-capitalized, not-for-profit financial cooperatives that have withstood difficult financial times because of smart stewardship and responsible lending,” said Carpenter. “Best of all, they have money to lend.” * A CBS MoneyWatch Web story Tuesday about credit card options for college students that tells students: “As a young adult opening up a credit card for the first time, you may want to scour the offers from your local credit union first. Credit unions generally offer the lowest annual percentage rates on credit cards. They’re also known for above-average customer service. If you want one-on-one help where they will remember your name, a credit union is the place to go.” The article also contains a link to the Credit Union National Association’s Credit Union Locator. * An AOL.WalletPop.com article Tuesday that told readers who want to open a new bank account and obtain free checking to look at Bankrate.com’s new survey of credit unions (use the link to view a News Now article about the survey) to see which credit unions offer free checking. “Of the 50 largest credit unions in the country, 39 of them have free checking,” the article said.
To read the articles, use the links.