Q: What do Dave Ramsey, Clark Howard, and Suze Orman all have in common?
A: Well besides having expertise in personal finance, they love credit unions! Here is what they have to say about credit unions and how anyone can benefit from becoming a member of a credit union. Their opinions are gathered from different sources and quotes on their websites. Visit one of the sites by clicking on their name below.
Dave Ramsey answers a question posted on his site about banks versus credit unions. Ramsey says he hasn’t done business with the mega-banks for years because of poor customer service. He uses a local community bank for his banking as well as credit unions. In most cases, credit unions and small banks don’t get involved in the subprime mortgage debacle. Credit unions are an excellent place to have money.
Clark Howard wrote an article explaining why credit union credit cards are easier to use when traveling overseas. He writes that the New York Times reported that credit unions are beginning to step up and issue cards with the chip and pin technology in place to adopt to the international standard. He also states that it’s often been said that there are no free lunches, but he thinks that credit unions are darn pretty close. Howard writes, when it comes to credit cards, most credit unions offer Visa and MasterCard with interest rates that are about 20% lower than the giant monster mega-banks. He notes that credit unions are a wonderful option available to most adults, but only about 1 in 3 actually is a member.
Suze Orman interviewed with KMBC.com back in 2009 shaming credit card companies, but she also explains what the answer is to these problems. She states, “Here’s the answer: credit unions. They are different than banks. Most banks are owned by their shareholders. They’re responsible to these shareholders and it happens to be on the stock exchange, so anything to increase earnings and profits. Credit unions have members. They’re responsible to the members. So, many credit unions — not all — are giving you no balance-transfer fees, low-interest rates. They’re being ethical and honest.“
So there it is folks, aren’t you glad you chose a credit union? And if you don’t have a membership with us or another credit union, did this convince you?
