GREENSBORO, N.C. –Through lower fees and loan costs plus higher deposit rates, North Carolina consumers have saved $529 million in a single year, according to results from an updated study released Tuesday and produced by a University of Alabama economist and former finance adviser at the Federal Reserve Bank of Atlanta.

The study, issued by the North Carolina Credit Union League and which found results “more meaningful amidst a slowing economy,” is an update of a similar three-year-old research report also done by William E. Jackson III., professor of finance and management at the Culverhouse College of Commerce at the University of Alabama, Birmingham. Jackson also holds the Smith Foundation Chair of Business Integrity at the Alabama college.

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