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Article: Credit Unions Offer Better Rates, but Not the Convenience of Big Banks.(Originated from Pittsburgh Post-Gazette)
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- July 8, 1996
- Author:
CopyrightCOPYRIGHT 1996 Knight-Ridder/Tribune Business News. 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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Jul. 8--Fed up with the puny returns and pesky fees your bank is dishing out these days?
Many people are. And some of them are turning to credit unions as a way to fight back.
Nationally, credit unions added 2.7 million members last year, boosting their membership total to 69.3 million.
In Pennsylvania, which has 900 credit unions, more than any other state, membership has grown by nearly a half-million in the past five years to 2.9 million.
The reason for that growth is simple.
Credit unions typically pay higher rates on deposits and offer cheaper loans than banks. They also charge fewer and lower fees.
A study released last ...