MADISON, Wis. (1/12/15)--A recent NerdWallet article highlighted tools that credit unions offer consumers to improve their finances in 2015.
"As consumer-owned financial institutions, credit unions are wholly invested in their members' financial future, making them a great alternative for consumers looking to start the new year fresh," Diana Dykstra, president/CEO of the California and Nevada Credit Union Leagues, told NerdWallet. "They typically offer lower interest rates on loans, lower fees on services and higher rates on savings."
One way that financial institutions can help their members start the year off right is to make it easier to save, according to Gigi Hyland, executive director of the National Credit Union Foundation.
"Everyone knows that folks have trouble saving money,'' Hyland told NerdWallet.
By offering members the chance to have their paycheck deposit divided between checking, savings and retirement accounts automatically, banks and credit unions can encourage more saving, she said, noting research that shows people don't always do what's in their best interest.
For NerdWallet's list of the credit unions that are helping their members achieve financial stability in the new year, read the article.