Credit unions in Georgia continue to outpace banks with lower interest rates on loans and credit cards and fewer fees.
According to the Georgia Credit Union Affiliates' latest index of loan activity and rate comparisons, credit unions saved Georgians more than $138 million on an annual basis from lower interest rates, higher rates on savings and lower fees.
Credit unions approved more than 174,000 loans to Georgians through the first half of this year, compared to 178,000 in the same period ending June 2008. Loans totaled more than $2.1 billion in the first half of 2009, compared to $2.0 billion through the same period last year. While the number of loans decreased slightly, the average loan amount was higher-$12,416 compared to $11,557.
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