Slash fees with CU membership, ABC affiliate says

September 21, 2015

PHILADELPHIA (9/21/15)--Philadelphia’s ABC affiliate WPVI-TV recently ran a story about how consumers can escape exorbitant bank fees by heading straight to the nearest credit union.

After detailing the ins-and-outs of the credit union structure, the article listed hard facts that prove why credit unions, in addition to their premier service, provide the best value.

Nearly three quarters of the largest credit unions nationwide offer free checking accounts, compared with only 38% of the largest banks, the article cited, using Bankrate numbers.

Further, the average overdraft fee at a credit unions is nearly $6 less than the fees banks charge.

“And here’s the best news,” the article said. “There are a handful of credit unions open to anyone in the country, all you have to do is make a one-time minimal donation or membership fee and open a savings account. It’ll cost you as little as $10 total but save you big in the long run.”

The article also listed CUNA’s as a place to find the most convenient credit unions anywhere in the country.