TRENTON, N.J. – The state Department of Banking has released its third edition of the "Consumer Guide to Bank and Credit Union Fees," and the results show that credit unions once again compare favorably to bank in several categories. Among the findings, credit unions reported lower transaction fees for ATMs, stop payments, and other services, as well as requiring lower minimum account balances for no-fee checking accounts. In many cases, CUs reported they did not require any minimum balance be kept in an account for a member to be eligible for a no-fee checking account. The consumer guide is a valuable tool for promoting credit unions as it originates from an independent source, and it reflects extremely favorably on the credit unions in our state, said CUANJ President/CEO Russell Clark.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
