MADISON, Wis. (11/5/14)--Credit unions were recently highlighted in two national magazines for offering a better choice in financial institutions.
In Kiplinger's Best List, two credit unions were mentioned in the Best Accounts at Banks and Credit Unions category.
Alliant CU, Chicago, with $8 billion in assets, was mentioned as a credit union of choice for consumers. "Alliant CU has free checking and savings accounts with decent interest rates," the article said.
Consumers CU, Round Lake Beach, Ill., with $614 million in assets, was cited for its high-yield checking. "The Consumers CU Free Rewards Checking account pays up to 5.09% on balances of up to $10,000 if you meet certain requirements, including making 12 debit-card transactions a month," the Kiplinger article said.
In a U.S. News & World Report article, credit unions were recommended as an option for consumers who are considering a change in financial institutions. Jackie Lam of Cheapsters.org recommended cooperative financial institutions. "Banks are for-profit financial corporations, while credit unions are non-profit institutions offering discounts to their members," Lam told U.S. World & News Report.