Join A Credit Union For Big Savings
NEW YORK (6/29/10 CUNA)–Consumers need to find a way to join a credit union to be able to enjoy all the great resources they offer, said an ABC News correspondent Monday.
“I was once again reminded what phenomenal resources credit unions are,” said Elisabeth Leamy, ABC News consumer correspondent, in a segment titled, “Save Big Money on Home and Car Loans: Go to Credit Union for Auto Financing.”
“In fact, if you are in the market for a car, you have GOT to find a way to join a credit union, if you’re not already a member. You can find one you are eligible for at Find a Credit Union. Or to see if you are eligible to join SIU Credit Union, click here.
“Credit union auto financing is generally such a great deal that I’m going to issue a rule here: never shop for a used car at a dealership without first getting outside financing quotes, especially from a credit union,” she added.
Leamy then compares car loan interest rates at her credit union with those of area banks. See the full report here.
CNNMoney.com, Fox Business Tout CUs
MADISON, Wis. (6/25/10 CUNA)–CNNMoney.com and Fox Business both advised consumers to join a credit union to take advantage of better rates and fees.
Fox noted that consumers should “strongly” consider getting a credit union credit card because credit unions charge a lower late fee–a median of about $20–compared with $39 at banks. Large banks tend to charge higher fees, Fox said. The segment discussed how the Credit Card Accountability, Responsibility and Disclosures Act will affect consumers and what they need to know about the act, which was enacted in May.
CNNMoney mentioned that credit unions offer better interest rates and rates on share certificates, savings accounts and money market accounts. The article, saying that credit unions offer a “popular alternative to large banks,” also noted the Credit Union National Association’s credit union locator–creditunion.coop.
“Don’t Change Interchange” by The Disclosures
Protect your credit union’s debit card! Recently, the US Senate approved the Financial Regulatory Reform Bill which included a provision that would mandate price controls on the interchange fees paid by merchants for accepting debit cards. This bill has unintended consequences for credit union members and every consumer with a debit card in his or her wallet.
Contact your federal legislators ASAP and ask them to oppose the Senate-passed interchange provision.
TAKE ACTION:
Send a letter to congress:
http://capwiz.com/cuna/home/
Call Legislators:
1-877-223-5275
Please post, watch, and share this video anywhere you see fit to help spread the word on this important issue.
Song performed by The Disclosures with apologies to George Michael. The Disclosures are Chad Helminak (right) and Christopher Morris (left).
The views and opinions expressed in this video are solely those of The Disclosures.
AOL’s WalletPop: CUs one of memberships ‘worth the money’
MADISON, Wis. (5/27/10 CUNA)–Credit unions are one of 10 memberships “worth the money” for consumers and, furthermore, could be the membership consumers “can’t afford not to join,” according to an article on AOL’s WalletPop.com.
Because many people carry debt on their credit cards, rates charged by credit union cards are desirable [because they are lower than many major card companies], financial guru Suze Orman wrote in an article about safeguarding finances, WalletPop said.
“What I want you to do is to go to creditcardconnection.org and find a good credit union near you,” Orman wrote. “Anybody can join a credit union … [and] get a good credit union credit card.
“Do you know by law, federally chartered credit unions cannot charge you more than an 18% interest rate?” Orman added.
WalletPop also referred readers to the Credit Union National Association’s credit union locator tool on its website.
SIU Credit Union membership is open to anyone living or working in Franklin, Jackson, Jefferson, Johnson, Perry, Marion, Randolph, Saline, Massac, Union or Williamson counties in Illinois. A $5 membership deposit is required to become a member of SIU Credit Union.
Schaefer Sworn In As League Director
Dennis Schaefer, (middle) President and CEO of SIU Credit Union, is sworn in as an Illinois Credit Union League Director.
SIU Credit Union President and CEO Dennis Schaefer was sworn in to the Illinois Credit Union League (ICUL) board of directors Thursday at the league’s annual Delegates’ Meeting by Chairman John Bratsakis in Chicago.
Schaefer was elected at the Jan. 28 meeting of the Egyptian Chapter.
New and Used Auto Rates Lowered
We’ve lowered our auto loan rates, again. If you are in the market for a new of used car, check with SIU Credit Union to get pre-approved for the best interest rate. We also may be able to refinance your vehicle loan from another financial institution and reduce your monthly payment. You can apply online at https://www.siucu.us/directwebprod/.
| APR** |
| L17 | New Auto (2010-2009) | 24 Months |
3.00% |
| Never Titled | 36 Months | 3.25% | |
| 48 Months | 3.25% | ||
| 60 Months | 3.75% | ||
| >$15,000 | 72 Months | 4.25% | |
| L16 | Used Auto (2008-2005) | 24 Months | 3.00% |
| Previously Titled | 36 Months | 3.25% |
|
| 48 Months | 3.25% |
||
| 60 Months | 3.75% |
||
| >$15,000 | 72 Months | 4.25% |
|
| L16 | Used Auto (2004-2002) | 24 Months | 3.00% |
| Titled | 36 Months | 3.50% | |
| 48 Months | 3.75% | ||
| 60 Months | 4.00% |
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