Transcript: Credit union networks

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Suggested Lead: If you use a credit union, you know that branches often aren?t as convenient as with banks. But a credit union branch may be closer than you think. explains.

Voice over 1: (Video of credit Union) Credit Unions have traditionally offered lower interest rates on loans and higher interest rates on savings. So why don?t more people use them?

Voice over 2: One reason is credit unions often have fewer branches than banks and they’re harder to get to. But if that?s kept you from joining, it’s no longer an excuse.

SOT: (This is old bite: See if there’s a newer one on NEW B-roll of 5/08) ?Our members can go to 1200 facilities all over the country. It?s great for members because it provides convenience for them, and it?s good for us, the credit unions, because we don?t have to build extra branches.?

Voice over 3: (Video of manager) What’s happening? Credit Unions are banding together to create networks. Networks that allow members of one credit union to access their accounts at other credit unions. Basically a credit union cooperative.

Voice over 4: (Banking/Credit Union video) So if you join a networked credit union, you can walk into any other member credit union anywhere in the country, even internationally; and conduct business just like you would at your own branch.

Voice over 5: (Video of
To find out if your credit union offers this service, simply ask, or check it out online.

Voice over 6: (Video of 7-Eleven from NEW B-roll of 5/08) Not all credit unions have joined this shared branch system yet: but many have. In fact, even some 7-eleven stores now have self-serve kiosks…and they’re free.

STAND-UP: So if you like the idea of lower interest on loans and higher interest on savings, check out a credit union. And if there’s not one close to home, don’t worry…just find one that’s a member of the network. For, I’m Kristin Arnold.