CNNMoney.com recommended credit unions as one place to look for better deals on credit cards. "Direct mail offers from credit card companies are on the rise, while credit card issuers are making subtle changes to terms to minimize their risk. And that's making it even more challenging to find the right card," report noted, adding, "... if you can join a credit union, you'll likely get charged lower interest rates. Some credit unions even allow members' relatives to join." The report also urged readers to go to creditunion.coop to check on a CU in their area.
The Rochester Democrat & Chronicle profiled Genessee Co-Op FCU as it marks its 25th birthday. Noting it was founded in 1982 by self-described "Monroe Avenue hippies," today the CU offers Internet banking, ATMs and other high-yielding accounts. CEO Melissa Marquez was quoted as saying, "We're here to serve the people of this community, and we're here to stay." The story, which said that ESL FCU recently made a $100,000 non-interest bearing deposit, added that it is has been reaching out to new members, including refugees from the war-torn nations of eastern Africa.
