Just one reason to belong to a credit union is for the better interest rates. Whether you are saving or borrowing money, credit unions offer better rates, on average, than for-profit financial institutions like banks. The most recent data from NCUA (December 2008) shows the current averages for credit unions and banks. (See the March 2009 Interest Rate Comparisons). In almost every situation, the credit union is your best choice. It does not matter where you live. You are likely to find a credit union that is community based - meaning that as long as you live or work within the region designated by the credit union's community charter, you can walk in and become a member. As the economy continues to tighten, the time is right to make the most out of any advantage you have. Better rates at your local credit union is just one option you have to take back control of your finances. Find out why millions of people in the United States, and elsewhere, are members of credit unions. The credit union way of providing financial services is just smarter.

Comparison of Average Savings and Loan Rates at Credit Unions (CUs) and Banks
Product	All CUs*	All Banks*	27 Banks Converted from CUs**
5 Years CD ($10,000)	3.81	3.12	3.62
4 Years CD ($10,000)	3.56	2.87	3.33
3 Years CD ($10,000)	3.37	2.68	3.21
2 Years CD ($10,000)	3.16	2.52	3.14
1 Year CD ($10,000)	2.93	2.26	2.85
6 Months CD ($10,000)	2.59	1.88	2.49
3 Months CD ($10,000)	2.15	1.50	1.97
Money Market ($2,500)	1.22	.62	.96
Interest Checking ($5,000)	.48	.36	.69
Regular Savings ($1,000)	.68	.44	.61
Credit Card Classic	11.64	12.76	12.28
30 Year Fixed	5.44	5.58	5.88
15 Year Fixed	5.20	5.30	5.58
5/1 Year ARM	5.54	5.71	6.05
3/1 Year ARM	5.33	5.56	5.83
1 Year ARM	5.18	5.44	5.63
Unsecured Fixed 36 Months	10.60	12.47	11.66
Home Equity 5 80%	6.11	7.31	6.89
Home Equity LOC 80%	4.70	4.90	5.27
48 Months Car 2 Years Old	5.72	7.50	7.06
36 Months Car 2 Years Old	5.62	7.45	6.96
New Car 60 Months	5.57	6.99	6.84
New Car 48 Months	5.46	6.91	6.67
December 2008 Data Provided to NCUA By DATATRAC, Inc.
* National Average Rate ** Average Rate

The most recent credit union and bank interest rate data, from March 27, 2009, provided by the National Credit Union Administration (NCUA) shows the current averages for loans and savings products. In nearly every situation, the credit union is your best choice. It does not matter where you live. You are likely to find a credit union that is community based - meaning that as long as you live or work within the region designated by the credit union's community charter, you can walk in and become a member.

Whether you are looking to buy your first house, need financing for a car, or want to open a CD, your local credit union has the right interest rate for you. Check out Credit Unions Online Financial Calculators to see how much you can save by choosing a credit union.

As the economy continues to worsen, the time is right to get the best interest on money you are putting aside. Better rates from your local credit union is just one option you have to take back control of your finances. Find out why over 177 million people worldwide have joined credit unions. The credit union way of providing financial services is just smarter. Dump the big banks and switch to a local credit union!

Comparison of Average Savings and Loan Rates at Credit Unions (CUs) and Banks
Product	All CUs*	All Banks*	27 Banks Converted from CUs**
5 Years CD ($10,000)	3.14	2.61	3.00
4 Years CD ($10,000)	2.90	2.38	2.79
3 Years CD ($10,000)	2.70	2.17	2.58
2 Years CD ($10,000)	2.45	1.97	2.37
1 Year CD ($10,000)	2.17	1.69	1.95
6 Months CD ($10,000)	1.82	1.34	1.55
3 Months CD ($10,000)	1.40	.99	1.21
Money Market ($2,500)	.93	.49	.84
Interest Checking ($5,000)	.39	.28	.43
Regular Savings ($1,000)	.56	.36	.47
Credit Card Classic	11.65	12.70	12.56
30 Year Fixed	5.16	5.14	5.20
15 Year Fixed	4.87	4.88	4.92
5/1 Year ARM	5.14	5.29	5.58
3/1 Year ARM	4.98	5.22	5.40
1 Year ARM	4.83	5.02	5.33
Unsecured Fixed 36 Months	10.62	12.46	11.45
Home Equity 5 80%	6.08	7.36	6.58
Home Equity LOC 80%	4.40	4.77	4.91
48 Months Car 2 Years Old	5.63	7.24	7.10
36 Months Car 2 Years Old	5.53	7.21	7.00
December 2008 Data Provided to NCUA By DATATRAC, Inc.
* National Average Rate ** Average Rate

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