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.
Suze Orman to Larry King: CUs have great rates
WASHINGTON (12/14/09 CUNA)–Credit unions offer better rates on credit cards, personal finance guru Suze Orman told Larry King on Larry King Live Thursday.
King asked Orman if credit unions are a better option for those interested in transferring their credit card balances to credit unions from a bank.
“Yes, yes, yes, yes,” Orman said. “Credit unions–especially ones that are federally chartered–the maximum interest rate they can charge you is 18%. Now, while that may sound like a very high interest rate, the truth of the matter is many of these banks today are charging 29.99% interest.”
“So here is what I am suggesting. I think the United States of America–all of you should start looking into credit union credit cards and do a balance transfer,” Orman said.
She suggested consumers visit creditcardconnection.org, a new site that offers information about financial institutions offering credit cards. Users can enter in their zip codes to find credit unions, Orman said.
Give SIU Credit Union’s credit cards a try. Compare our rates and fees to your big bank card to see the difference. Apply today and start saving.
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