ARLINGTON, Va. -
"Credit unions offer sweet deals on credit cards, low rates on auto loans, the best CD rates in the business and heaps of personalized services," the magazine says. "And yes, you too can join one."
The major plug for credit unions came on the heels of several visits NAFCU had with the magazine's editorial staff in September, according to NAFCU PR Manager Patty Briotta. Briotta explained that NAFCU reached out to Money magazine after it did a story on online banking.
The magazine offers "Five Reasons You Belong In A Credit Union" and highlights rate comparisons between specific credit unions and the national bank average. Sabine FCU, Orange County Texas, for example, got a nod for its six-month CD rate of 5.43% compared with the national bank average of 3.45%.
"Credit unions still offer car loans, they're still tied to affiliation groups, and they still have friendly members looking to let you know about a good deal," the magazine wrote. "But today these not-for-profits are in a pitched battle with big retail banks for all your banking business. That's good news for you."
In one segment, the magazine answers the question, "should I ditch my bank" suggesting that such a move is worth considering if the consumer joins a credit union that is part of a surcharge-free ATM network such as CO-OP Network, "but many credit unions still can't match the big banks when it comes to the breadth of financial products or their services (like late branch hours.)"
Among the other products and services-and the credit unions offering them-featured in the publication: credit cards, Pennsylvania State Employees CU, Harrisburg, Penn.; auto loans, Plametto Citizens FCU, Columbia, S.C.; and home loans, Weld Schools CU, Greeley, Colo.
Amplify FCU, Austin, was also featured under "best perk" because its members can use the CU's online banking offering to track all their financial accounts, including those outside of Amplify.
