Posts Tagged 'savings'

Best way to bank? Don’t take our word for it.



We like to point out that, even in times of financial stress, credit unions like American 1 are a steady way to do your banking. Financially, we’re in great shape, and we continue to do all the great things we’ve always done – like this weekend’s Women’s Expo.

But don’t take our word for it.

Productivity blog Lifehacker helps sing the praises of credit unions, offering us not-for-profit financial institutions as a barrier to the weirdness out there.

“With major instability in banking and unprecedented failures and buy-outs, it may feel like the only safe place to put your money is under your pillow,” Lifehacker editor Gina Trapani writes. “While even through buy-outs like Washington Mutual’s, your money remains FDIC-insured, this is a good time to consider an alternative to for-profit private banks—like credit unions.”

Thanks Gina! And be sure to check out the comments section of the Lifehacker article for great comments from credit union members.


Wall Street Journal: CUs are the best way to bank

It’s something we’ve known all along, right? But Brett Arends, writer for the Wall Street Journal’s “R.O.I” column (that’s “return on investment”) says that with all the trouble banks are having these days, credit unions are a sleeper hit:

These not-for-profit co-operatives have a kind of sleepy, backwater image. They’re often seen as the local libraries of banking. But that’s too bad. The chances are they didn’t pay their chief executive $10 million while writing off billions in subprime loans. And they can offer you some surprisingly good deals.

Arends says many creidt unions, like American 1, offer the same services banks do – often with better rates.

And since credit unions “don’t have to pay for billions in losses on subprime mortgages and other bad loans,” they can pass the benefits right on to members.

Read the rest of Arend’s column, “For Better Banking, Check Out a Credit Union,” at WSJ.com.

Members Choice: name your account

Personalized accounts with American 1

We’re looking for a few good personalized accounts.

This month, American 1 is featuring Members Choice accounts, which are special accounts you can name and store away money for anything you can think of.

Saving up for a big vacation? How about a new car? Or a new washer and dryer set? Some members even use them for periodic expenses like taxes or insurance payments.

We’re wondering what you name YOUR Members Choice account. Do you name it something practical like “Dream Vacation,” or something funny like the “When We Finally Get Married Account?” Whatever it is, tell us in the comment section below. We want ideas so that, when members are wondering what they can save for, we can give them a few hints.

Plus, if you open up a personalized Members Choice account in May, you’re automatically entered to win a $50 deposit from the credit union to help you get started on…well, whatever it is you’re saving for.

So tell us: what do you call YOUR account?


American 1 Federal Credit Union