The Wall Street Journal offered a backhanded compliment to CUs, noting their “websites may not look quite as polished and the eligibility requirements may give you pause, but when it comes to low fees and generous rates, credit unions match banks head-to-head.” The story added it’s “not that you’ll find drastically better deals at [CUs], but their products should be among the options you consider when searching for savings and checking accounts, certificates of deposit, small-business, mortgage and auto loans, and credit cards–particularly now, given that credit unions in large part sidestepped the subprime crisis.”
Walletpop.com gave a qualified endorsement to CUs when one blogger shared the story of financing a new car using a direct transfer of funds from one CU to another at which it had gotten the loan. In the first month the transfer didn’t occur, and another error only made the problem worse. “After the two banks got their heads together the error was resolved in a matter of minutes and my account balance had been righted. Overall I spent maybe 10 minutes on the phone to fix this error, which is probably the shortest I have ever spent on a financial issue,” the blogger noted, saying it “makes me a believer in the power of small credit unions to deliver great service and rates, even if the online banking client looks like it was developed in the late 70s!”(c) 2008 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved.http://www.cujournal.com http://www.sourcemedia.com
