CUNA and NAFCU are sponsoring a new ad in several Capitol Hill publications chastising banks for whining about the competition from credit unions as they continue to report record profits. In pointing out the continued banker complaints, the ad goes on to say, "Why? Because America's credit unions provide quality financial services without the bloated fees the banks charge."
The ad cites figures from USA Today showing that since 2000 the banking industry has consistently been the most profitable in the nation, with bank profits at $17 per $100 in earnings, compared to $16.20 for the pharmceuticals business and $5.70 for the oil and natural gas industries. The ad invites the reader to: "Join our 87 million credit union members and tell the banks to just knock it off!" - a message the trade groups have used in previous ads.
The ad appears in Roll Call, The Hill, Congress Daily and CQ Today.
