Credit unions wrapped up last year with a slew of mainstreammedia financial experts talking them up as an alternative tobanks.
CBS Early Show financial contributor Vera Gibbons touted how creditworthy consumers “stand a better chance of getting a personal loanat a credit union than you do at a commercial bank” since creditunions “are not as tangled up in the subprime mess as the bankswere, so they're in a better position to loan.” Gibbons, whointerviewed NAFCU President Fred Becker during the segment, alsopointed out that the lower rates at credit unions can helpconsumers keep a few hundred dollars in their pockets annually andrecommended they visit CULookup.com to find a credit union.
In the January issue of O Magazine, financial guru Suze Orman, inan article entitled “Your 2010 Financial To-Do List,” urgesconsumers to check out a credit union because “credit unions areoften a better deal than banks and tend to pay higher yields ondeposits.”