NEW YORK (8/22/13)--Credit unions offer fewer and smaller fees for financial services than large banks, says Bankrate.com, which also noted there are some prevalent myths about credit unions that are not true.
Of credit unions surveyed in Bankrate's 2013 Checking Survey, 72% offer checking accounts with no monthly fee. Credit unions also charge smaller fees for using out-of-network ATMs and for overdrafts, Bankrate.com said on its website.
However, some consumers remain reluctant to choose credit unions because of myths about credit unions' convenience and locations.
Bankrate dispelled these myths about credit unions: