March 24, 2010 From Suze Orman to The Wall Street Journal, along with many other highly-respected financial experts and publications, the experts agree - "The benefits of using a credit union are significant." Speaking to CBS News, financial guru Suze Orman, suggested that consumers move their credit card accounts to credit unions. Orman encouraged viewers to find a good credit union near them. "Do you know by law federally chartered credit unions cannot charge you more than 18% interest rate?" Orman asked. "Get yourself a credit card at a credit union." Credit unions offer an alternative to traditional banks and typically offer better rates than banks, CBS Evening News said in the same story. In the Wall Street Journal, Ondine Irving, a bank adviser, said that credit unions can offer cards without the high fees that banks charge, and still make a profit. "If credit unions can do it, banks should be able to as well. They are just choosing not to," she said.
John Murphy, President of the Maine Credit Union League, said, "It is significant to have the benefits and values of credit unions be all over the media. Credit unions have a great story to tell, and it is being told now more than ever."
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