NEWARK, N.J. — Citing their low rates on car loans and credit cards and high rates on certificates of deposit, a personal finance columnist recently encouraged readers to consider credit unions as a financial services option.

Alky Danikas, whose Money 101 column appears every other Monday in the Star-Ledger, said credit unions tend to have better rates than banks and thrifts. He also told readers “there is no additional risk of having your savings at a credit union compared to a bank” in his Sept. 22 column. He pointed out that the National Credit Union Share Insurance Fund backs deposits just as the FDIC does with bank deposits.

“I admit that I usually think of credit unions as being organized to serve a particular workforce or union,” acknowledged Danikas, who is also a lecturer of finance and economics at St. Peter's College in Jersey City.

He pointed out several sites readers could visit to find different credit unions to join and provided a brief synopsis on the industry's history.