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WASHINGTON — Credit unions may have to contend with one more colossal competitor in the market following Wal-Mart’s recent announcement to expand its Money Centers, but it has been done before.

“I think people will still go to credit unions because credit unions offer plenty of services as compared to Wal-Mart,” NAFCU President/CEO Fred Becker commented. He added that credit unions offer services like financial education, “which I don’t think Wal-Mart is interested in offering.” The key is getting those consumers into the financial mainstream, which Wal-Mart’s current offerings do not do and credit unions can.

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