It's as simple as Business 101. Cut costs and you can boost profits.
When the business is a credit union, profit means putting money in the pockets of members. That approach has allowed Rutherford District Postal Employees Federal Credit Union to reach upper tiers in paying savings rates, currently 2.52% APY.
That may sound modest, but in today's environment it is enough to land the credit union in the top three financial institutions on bankrate.com's savings interest ratings. Ask Howard Bernier, the treasurer, how the credit union accomplishes that and he has a quick answer. Keep expenses down.
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