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>>

  • Palestinian banner unfurled on Manhattan Bridge

    Palestinian banner unfurled on Manhattan Bridge

    Thursday, August 21 2014 7:14 AM EDT2014-08-21 11:14:27 GMT
    Pro-Palestinian activists marching along the Brooklyn Bridge got an eyeful when a giant flag banner in Palestinian colors was unfurled on the nearby Manhattan Bridge. The flag had the words "Boycott, Divest, Sanction" and was lowered from a part of the bridge near the Manhattan side Wednesday evening. Activists on the Brooklyn Bridge met its appearance with cheers.
    Pro-Palestinian activists marching along the Brooklyn Bridge got an eyeful when a giant flag banner in Palestinian colors was unfurled on the nearby Manhattan Bridge. The flag had the words "Boycott, Divest, Sanction" and was lowered from a part of the bridge near the Manhattan side Wednesday evening. Activists on the Brooklyn Bridge met its appearance with cheers.
  • Man punched in face in knockout assault

    Man punched in face in knockout assault

    Thursday, August 21 2014 6:55 AM EDT2014-08-21 10:55:16 GMT
    The so-called 'knockout game' where a person punches another unsuspecting person has made its way to Hackensack, New Jersey. Police say one assailant attacked three people all in the same day. Surveillance video shows the athletically built suspect punch a man in the face and stroll away. The man fell to the ground. Two other assaults took place within less than 15 minutes in the areas of Essex Street, Summit Avenue and Beech Street on Monday night.
    The so-called 'knockout game' where a person punches another unsuspecting person has made its way to Hackensack, New Jersey. Police say one assailant attacked three people all in the same day. Surveillance video shows the athletically built suspect punch a man in the face and stroll away. The man fell to the ground. Two other assaults took place within less than 15 minutes in the areas of Essex Street, Summit Avenue and Beech Street on Monday night.
  • Atlantic City police get body cameras

    Atlantic City police get body cameras

    Thursday, August 21 2014 6:36 AM EDT2014-08-21 10:36:31 GMT
    Atlantic City police officers have started wearing body cameras. About five officers a shift will be equipped with the devices, which record video and audio after an officer activates the device. The video is uploaded after the officer's shift ends.
    Atlantic City police officers have started wearing body cameras. About five officers a shift will be equipped with the devices, which record video and audio after an officer activates the device. The video is uploaded after the officer's shift ends.

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 | New Terms of Service What's new | Ad Choices