More Proof That Credit Unions Beat Banks

A recent article in Credit Union Times was chock full of proof that credit unions still have a big edge on banks when it comes to people-friendly practices.

The article, by J. Daniel Young, overviewed some recent surveys on fees.

Specifically, data from A MoneyRates.com survey of banks found that they charged, on average, $159 a year for checking account maintenance.

A Bankrate.com survey found that credit unions only charge an average of $24 per year, with checking account maintenance fees topping out at around $120 annually.

The survey found that credit unions charge anywhere from $1 to $10 per month for maintenance fees.

Young also found banks continue to raise fees, while credit unions work hard to keep fees low for their members.

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