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WSJ: Credit Unions Still Outdo Their Bank Counterparts, And It's Easier To Get In

Sunday, June 12, 2011 - 6:56 AM
I don't think any of this blog's readers will be surprised by this Wall Street Journal article which shows that many of the best bank deals are at credit unions. And as the article mentions, shared branches and ATM networks can help offset the small size of credit unions. I have more details about this in my credit union post.

One problem with the article is that it references Patelco Credit Union's 5% 1-year CD as an example of credit unions offering better CD rates than banks. It failed to mention that the maximum deposit is $1,000 and it's only for new members. Patelco Credit Union's standard 1-year CD rate is only 0.50%.

Better examples would have been Connexus Credit Union's 1.75% 1-year CD when the member has an active checking or Melrose Credit Union's 1.41% 1-year CD.
Ken TuminKen Tumin5,471 posts since
Nov 29, 2009
Rep Points: 125,634
1. Sunday, June 12, 2011 - 8:12 PM
A total lack of mention on RCAs, where Credit Unions are offering many of the best deals.
51hh51hh1,476 posts since
Jan 16, 2010
Rep Points: 6,427