Credit unions much more likely to offer free checking accounts t - New York News

Credit unions much more likely to offer free checking accounts than banks

Updated:
By TOM SMART, DESERET MORNING NEWS. A teller helps customers at Credit Union One March 5, 2004. By TOM SMART, DESERET MORNING NEWS. A teller helps customers at Credit Union One March 5, 2004.

By: Amberlee Lovell

The chances of finding a free checking account are significantly greater at a credit union than a bank, according to a recent study by Bankrate.

Of the 50 major credit unions that Bankrate studied, 72 percent offer free checking accounts with no strings attached. Only 39 percent of banks offered them.

“While banks have significantly scaled back free checking accounts, free checking remains the rule, rather than the exception, among credit unions,” Greg McBride, CFA, bankrate.com's senior financial analyst said in the study.

Both banks and credit unions have cut the amount of free checking available. In 2010, 78 percent of credit unions and 65 percent of banks offered free checking.

Half of the credit unions required no minimum opening deposit, and none of those that did required more than $100.

ATM charges, which have increased 10 percent last year, are generally cheaper for credit unions as well. The average surcharge for a credit union is $2.29. For a bank, the average is $2.50.

Originally Posted

Copyright 2013 Deseret Digital Media, Inc.

  • Local NewsLocal NewsMore>>

  • God's Love We Deliver virtual bake sale for birthday cakes

    God's Love We Deliver virtual bake sale for birthday cakes

    Wednesday, April 23 2014 6:36 PM EDT2014-04-23 22:36:46 GMT
    God's Love We Deliver provides meals to people in the New York City area who are too sick to shop and cook for themselves. Clients also receive birthday cards that are decorated by local school students. Sometimes a cake is the only birthday gift that God's Love's clients will receive.
    God's Love We Deliver provides meals to people in the New York City area who are too sick to shop and cook for themselves. Clients also receive birthday cards that are decorated by local school students. Sometimes a cake is the only birthday gift that God's Love's clients will receive.
  • Success Academy students waiting for word on new locations

    Success Academy students waiting for word on new locations

    Wednesday, April 23 2014 5:58 PM EDT2014-04-23 21:58:48 GMT
    The mayor's office is saying one thing. The charter schools another. It is a lot of he said, she said. The bottom line is that right now the future of three charter schools is still unclear. Jennifer Duran is afraid because she doesn't know where her two children are going to school next year. Both kids attend success academy Harlem 4, one of three charter schools that still does not have a set location. The other two charters are Success Academy Jamaica in Queens and Success Academy City Hall.
    The mayor's office is saying one thing. The charter schools another. It is a lot of he said, she said. The bottom line is that right now the future of three charter schools is still unclear. Jennifer Duran is afraid because she doesn't know where her two children are going to school next year. Both kids attend success academy Harlem 4, one of three charter schools that still does not have a set location. The other two charters are Success Academy Jamaica in Queens and Success Academy City Hall.
  • Connecticut man charged in Yale hoax threat

    Connecticut man charged in Yale hoax threat

    Wednesday, April 23 2014 3:33 PM EDT2014-04-23 19:33:11 GMT
    New Haven police say they have charged a Westbrook with making a hoax call in November to say an armed man was heading to shoot up Yale University.
    Police say they have charged a Connecticut man with making a call in November in which he falsely claimed an armed man was on his way to shoot up Yale University. New Haven police said Wednesday that 50-year-old Jeffrey Jones, of Westbrook, has been charged with falsely reporting an incident, threatening, reckless endangerment, misuse of the emergency 911 system and breach of peace.
Powered by WorldNow
Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices