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Article: Credit union growth has bankers nervous. (Finance Monday) (Industry Overview)
- Article from:
- Crain's Cleveland Business
- Article date:
- September 21, 1992
- Author:
CopyrightCOPYRIGHT 1992 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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What takes in money and lends it to an exclusive set of individuals at rates better than those available to the public at most commercial banks?
No, it's not the House Bank. It's the local credit union, which is faring much better than the congressional lending institution.
Credit unions, which serve everyone from firefighters to members of church parishes, are getting bigger and changing everyday. And they're causing banks and savings and loans headaches.
Banks and thrifts, in fact, loathe credit unions, claiming they've evolved to the point at which they're competing with other financial institutions for all types of loans and services, but without ...