The Courier News out of Chicago recently wrote a story about the evolution of credit unions. While I should spend a second debating the included statement "credit unions can offer these [more favorable] rates because Congress exempted them from federal income taxes" (the truth is, we offer better rates because that's what we are in the business of doing - our members are our owners), the article was very pro-credit union. Specifically, the story maintains that "if you haven't been able to join a credit union before, you might be now". The truth of the matter is most Americans can (and should) join a credit union. The story's research states that credit union members earned .70% more on money market accounts and 1.4% on new car loans last year as compared to bank customers(a Datatrac study is cited). We have all seen similar studies with similar results, but the quick and dirty of it is - join a credit union. With all of that money to save, what are you waiting for?
http://www.suburbanchicagonews.com/couriernews/business/254237,3_3_EL13_CREDITUNIONS_S1.article
20 February 2007
02 February 2007
Bank, ATM Fees Continue to Skyrocket!
According to a recent story in the South Bend Tribune, the average ATM fee is $1.64 - up from $1.54 in 2005. Thank goodness for North Carolina's surcharge free network of credit union ATMs, eh? Join a credit union...save yourself some money!
Bank, ATM fees on the rise - South Bend Tribune
Bank, ATM fees on the rise - South Bend Tribune
The Sad Truth...U.S. Citizens Spend More than They Earn
The Commerce Department just reported what we all feared was true - Americans are spending more money than they are making. What is being called the "lowest personal savings rate since 1933," the nation's personal savings rate is now at a dismal negative 1%.
It's certainly not too late to make a New Year's resolution to set aside $100, $50, even $20 out of every paycheck into a savings account. Taking advantage of a high credit union dividend rate, you will be pleasantly surprised how quickly these deposits can add up!
http://www.usatoday.com/money/economy/income/2007-02-01-spending-incomes_x.htm?csp=34
It's certainly not too late to make a New Year's resolution to set aside $100, $50, even $20 out of every paycheck into a savings account. Taking advantage of a high credit union dividend rate, you will be pleasantly surprised how quickly these deposits can add up!
http://www.usatoday.com/money/economy/income/2007-02-01-spending-incomes_x.htm?csp=34
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