Credit unions explained on CBS Early Show

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CBS’s financial contributor Vera Gibbons recently spoke with CBS’s Early Show about the benefits of joining a credit union (click the above link to see the video). One of the benefits we know first-hand? Lending:

Lending portfolios at commercial banks are down, and credit union loan portfolios are up. This means that if you are a credit worthy customer, and your credit history is in good standing, you stand a BETTER chance of getting a personal loan at a credit union than you do at a commercial bank. Why is that? Credit unions are not as tangled up in the sub-prime mess as the banks were, so they’re in a better position to loan.

If you’re looking for a last-minute gift to give this holiday season, why not think about an Eagle Earners account for a child? Starting your kid out at a credit union is a great way to get them started on financial literacy.

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American 1 Federal Credit Union

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