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Credit unions wrapped up last year with a slew of mainstream media financial experts talking them up as an alternative to banks. CBS Early Show financial contributor Vera Gibbons touted how credit worthy consumers “stand a better chance of getting a personal loan at a credit union than you do at a commercial bank” since credit unions “are not as tangled up in the subprime mess as the banks were, so they’re in a better position to loan.” Gibbons, who interviewed NAFCU President Fred Becker during the segment, also pointed out that the lower rates at credit unions can help consumers keep a few hundred dollars in their pockets annually and recommended they visit CULookup.com to find a credit union. In the January issue of O Magazine, financial guru Suze Orman, in an article entitled “Your 2010 Financial To-Do List,” urges consumers to check out a credit union because “credit unions are often a better deal than banks and tend to pay higher yields on deposits.”

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Peter Westerman

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Credit Union Times

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