For the first time this year, an equal number of registered voters replying to a CUNA survey said they considered credit unions better than banks as a place to put a day-to-day checking and savings account.
CUNA has conducted the phone survey of 1,000 registered voters drawn from across the country early in each year since 1998.
Richard Gose, senior vice president for political affairs for CUNA, reported that 53% of the voters surveyed reported that credit unons were the better place for consumers to put money for day-to-day checking and savings. The same percentage responded that banks were the best place. The numbers added up to more than 100 because 10% of respondents had responded with both, Gose said.
“If you take them out of it, the numbers would have been 43% for credit unions and 43% for banks,” he added.
Gose likened the survey response to a question about which institutions, banks or credit unions, should be considered more financially sound and stable. Answers to that question had been lopsided in favor of banks until credit unions gradually pulled even and now dominate the question, Gose explained.