Posted on 10/19/2011 3:25:12 PM PDT by Libloather
Link only - Credit Unions Cashing In On Banks Charging Debit Card Fees
Liberals never consider unintended consequences.
There was a BIG sign outside the local Wal-Mart saying “NO Debit card Fees!”. I had a WTH moment until I remembered the town’s credit union is located inside.
Topic drifting a bit, but I think IF Cain’s 9-9-9 plan ever got enacted, you’s see the same kind of competition among the 9% gross tax corporations with them undercutting each other to get more business.
Been a proud member of Navy Federal Credit Union since 1990. USAA gets my insurance. Could not imagine belonging to a “real” bank. They seem so stuffy and formal. Yuk!!! Hope all the banks fail.
Markets work (when allowed to do so).
Shhhhhh—Quiet!! Don’t give the commies any ideas. I don’t want them destroying the CUs like they are trying to do to the banks.
Financed my first car thru NFCU in 1963 and insured it with USAA.
“Once a member, always a member.”
From the article: “Banks tend to have a wider range of products and services than credit unions, more convenient locations, and more ATMs, American Bankers Association spokesman John Hall said.”
Spoken like a true banking industry shill. Credit unions have cooperative agreements with ATM providers, offer better consumer services, and usually have more than enough locations to meet your needs.
It is true that a credit union won’t offer you derivatives trading, but do you need that anyway?
My credit Union not only gives me free checking they don’t charge a fee if I withdraw money from their ATMs, most banks do charge a 1.50 to 2.50 charge for simply with drawing money from your own account. The whole argument for doing away with many tellers, by banks, was that ATMs would save them money and, by extension, the customers would be charged less. Exactly the opposite has happened.
“The whole argument for doing away with many tellers, by banks, was that ATMs would save them money and, by extension, the customers would be charged less. Exactly the opposite has happened.”
Banks in general do a lousy job. The bigger they are, the worse they seem to be. That’s what comes from having a government protected industry.
Ask yourself a fun question: would the financial meltdown have even started had credit unions been the dominant financial institutions in the U.S.? I think the answer is a resounding NO.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.