N.Y. Times, 117 media outlets spotlight CUs, no fees – CUNA News Now

The groundswell of attention to credit unions as the no-fee choice for debit cards continues, with Associated Press spotlighting their efforts. As of Friday afternoon, the AP item...

The groundswell of attention to credit unions as the no-fee choice for debit cards continues, with Associated Press spotlighting their efforts. As of Friday afternoon, the AP item had been repeated in 117 publications and websites–including The New York Times and the Los Angeles Times (Oct. 7).

The article, which appeared as “Mad at bank fees? Credit unions get another look” in The New York Times, notes that “credit unions are basking in the spotlight again.”

“Whenever a big bank rolls out a controversial fee, customers start fuming about taking their business elsewhere and the attention often falls on credit unions,” the article says. “That happened again …when Bank of America said it would soon start charging customers a $5 monthly fee to make debit card purchases. This time around, it seems some customers have finally had it.”

The article says several credit unions saw higher percentages of new account openings since the news. It notes that the Credit Union National Association (CUNA) is reporting an uptick in inquiries and account openings and cites locate credit union websites such as www.ASmarterChoice.org. The article also offers a rundown on what credit unions can and can’t offer, and it quotes CUNA on joining a credit union and on why credit unions can offer better rates. For the full article, use the link.

That wasn’t the only article circulating. A number of media outlets had opinions on the debit card fees topic and discussed credit unions as alternatives.

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