Credit Union Interest Rates Are The Best Option For Consumers
By Gregory Hurley Credit Unions Online Editor Credit Unions Online
Recent data from this past September shows that another reason to belong to your local 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. Consider the rates below for national averages of savings and loan products that compare credit unions with banks.
The most recent credit union and bank interest rate data, from September 23, 2011, 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 our Financial Calculators to see how much you can save by choosing a credit union.
As the economy continues to struggle, 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 188 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