Monday, March 16, 2009
Wall Street Journal: Credit Unions Are Safe Havens
The Wall Street Journal's March 15 edition says--despite the nation's economic turmoil--America's 8,000 credit unions have remained a safe and reliable source to park cash and borrow money.
"[Credit unions] also wooed consumers by offering a win-win combination of generally higher interest rates for savings accounts and lower rates for loans, when compared to most banks," reports the Journal.
It explains why credit unions--like Dupaco--continue to be rock-solid.
"Credit unions have largely avoided the banking world's turmoil by sticking to their plain-vanilla business model: taking in deposits from owner-members and lending the money back out to them. And they're writing more loan checks than they have in years--still mainly for home and auto loans, but for more business loans, too."
Read the complete story here.