The Credit Union National Association’s announcement that America’s credit union membership has topped 100 million was cause for celebration, and one that was noticed by media outlets across the nation.
Within hours of Tuesday’s announcement of the milestone, The Washington Post ‘s WonkBlog column cited CUNA interim President/CEO Bill Hampel, who shared the numerous benefits of credit union membership such as lower fees, higher savings rates and lower loan rates as well as increased awareness and broader membership eligibility.
“In the old days, people would have thought ‘those credit unions sound like a good deal, but I don’t think I can get into one,'” Hampel told The Washington Post . Now, the article noted, there is both greater eligibility and broader awareness.
News that roughly a third of Americans use credit unions quickly spread to other media outlets such as The Fiscal Times , which featured CUNA interim Chief Economist Mike Schenk, and Daily Finance . A recurring theme is the unique structure–not-for-profit, member-owned cooperative–of credit unions that gives them the ability to offer better rates and member-focused service.continue reading »