Credit Unions Are On The Rise
Fox Business tout CUs
MADISON, Wis. (6/25/10)--CNNMoney.com and
Fox Business both advised consumers to join a
credit union to take advantage of better rates and fees.
Fox noted that
consumers should "strongly" consider getting a credit
union credit card because credit unions charge a lower
late fee--a median of about $20--compared with $39 at
banks. Large banks tend to charge higher fees, Fox said. The segment
discussed how the Credit Card Accountability,
Responsibility and Disclosures Act will affect consumers
and what they need to know about the act, which was
enacted in May.
mentioned that credit unions offer better interest rates
and rates on share certificates, savings accounts and
money market accounts. The article, saying that credit
unions offer a "popular alternative to large banks,"
also noted the Credit Union National Association's
credit union locator--creditunion.coop.