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 (June 2008) shows the current averages for credit unions and banks. 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 and oil continues rise, 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.
Comparison of Average Savings and Loan Rates at Credit Unions (CUs) and Banks
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