AARP's July/August magazine tells its 47 million readers that credit unions are the way to go citing three compelling reasons to switch: lower fees, higher interest rates on deposits, and better service.
Consumer Reports July issue also has an article entitled, "When to Bail on Your Bank" which states:
The Move Your Money campaign spearheaded by blogger and pundit Arianna Huffington urges consumers to switch from big corporate banks to local ones. Too-big-to-fail banks took taxpayer bailout money and then, the argument goes, repaid that generosity by cutting home-equity loans, raising APRs on credit cards, and refusing to refinance mortgages.
Although smaller banks emphasize service and community ties, national banks generally have more branches and better online and mobile banking. That said, there are great deals at local banks and especially at credit unions. Read the benefits. Download the AARP article.
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