Follow Us: Google+
 
Bankrate.com

2011 Credit Union Checking Study
Fountain pen and calculator
checking
5 new services credit unions are offering

2011 Credit Union Checking Study » 5 new services credit unions are offering

Credit unions expand services
Next
1 of 7
text

Credit unions have long played up their role as the little guys of the financial industry. With their narrowly defined clientele, limited list of products and often a single branch, they could focus on providing old-fashioned, personalized service to their members. But with the recent financial crisis, many credit unions saw an opportunity to compete more directly with banks and add some disaffected bank customers to their membership rosters.

Today's credit union is serving up more of what consumers expect from a bank, including access to their accounts online, student loans and business loans. With economic constraints limiting their physical growth, credit unions also have embraced e-banking as one way to expand.

"The capital challenges that they're having, given the state of the industry, are forcing them to slow brick-and-mortar growth and aggressively expand into those electronic channels," says Chuck Fagan, chief sales officer for PSCU Financial Services, a credit union service organization based in St. Petersburg, Fla.

Here are five of the top areas in which credit unions are expanding their products and services.


 

 

advertisement

Show Bankrate's community sharing policy
            Connect with us
Compare Checking Rates



advertisement
Most Read
  1. 8 eerie ghost towns
  2. Headlight requirements by state
  3. Nick Nolte's house for sale
  4. 6 tips for successful yard sale
  5. Social Security traps to avoid
  6. 7 sedans for the young at heart
  7. 10 cars for a midlife crisis
  8. Ali Landry's house for sale
  9. 7 Social Security benefits
  10. 5 car models that lose value
Savings Overnight Averages
Product Yield +/- Last week
MMA
0.48% 0.49%
$10K MMA
0.47% 0.48%
MMA jumbo
0.61% 0.62%
Interest checking
0.51% 0.51%
Compare rates:
Don Taylorsavings
You've matured, but maybe not those savings bonds you received as a kid.
advertisement
JPMorgan Chase shareholders reject proposal to split chairman and CEO positions.
Partner Center
advertisement

Advertising Disclosure: Bankrate.com is an independent, advertising-supported comparison service. Bankrate may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website.