Friday, April 24, 2009
Kiplinger's: Credit unions are the place for cheap loans
Kiplinger's Personal Finance magazine this week says credit unions are the place to find cheap loans.
"Credit unions have plenty of cash, and their rates often beat what banks charge," reports the trusted consumer publication.
"While big banks continue to cherry-pick borrowers, credit unions are opening up their vaults. Thanks to conservative investing and lending policies that largely sidestepped the subprime-mortgage mess, credit unions have plenty of cash on hand."
What's more, Kiplinger's says interest rates on most credit union loans average "at least one percentage point lower than at banks."
Read it for yourself. Click here.