BOSTON — An article in the October 10 Boston Globe cited credit union's lower ATM fees and shared branching as reasons consumers might look to credit unions for their financial needs in these troubled economic times.
The wire services story said the large banks often had more branches, but that credit unions usually have lower ATM fees and their own strengths to match the banks' larger branch number.
"Joining a credit union doesn't necessarily mean sacrificing convenience, however," the unattributed article said. "Many are part of 'shared branching networks,' meaning members can drop in at multiple locations around the country to make deposits or withdrawals. About half of credit union members have access to other credit union branches through a shared network, according to the Credit Union National Association."
"The bigger the credit union, the more likely it is to offer services such as credit cards, mortgages, ATMs, or online banking. Many credit unions are also part of ATM networks. Members typically don't have to pay fees to use them," the article noted.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.