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N.C. Study Finds CUs Saved Consumers $529 Million

GREENSBORO, N.C. -- North Carolina credit unions have saved consumers $529 million in a single year as a result of lower fees and loan costs plus higher deposit rates, according to an updated research study produced by a University of Alabama economist and former finance adviser at the Federal Reserve...

By Staff Writer | Updated on May 13, 2008

GREENSBORO, N.C. — North Carolina credit unions have saved consumers $529 million in a single year as a result of lower fees and loan costs plus higher deposit rates, according to an updated research study produced by a University of Alabama economist and former finance adviser at the Federal Reserve Bank of Atlanta.

The study, released by the North Carolina Credit Union League, is an update of a similar three-year-old research report also done by William E. Jackson III, professor of finance and management at the Culverhouse College of Commerce at the University of Alabama, Birmingham. Jackson also holds the Smith Foundation Chair of Business Integrity at the Alabama college.

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