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The Right Relationship can Help You Achieve Your Financial Goals

  • Broadcast in Finance
Cornerstone CU League

Cornerstone CU League


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America’s best kept secret? Perhaps, but for whatever reasons, consumers seem to be taking a second look at credit unions. According to the latest Texas Credit Union Profile, since 2006 Texas credit unions have seen a steady growth in assets and membership. In fact, from year-end 2008 to third quarter 2009, 211,000 new memberships were opened in Texas credit unions. Over an eight-month period, 84.4 percent of Texas credit unions saw a notable increase in assets. Clearly consumers see credit unions as safe havens. As a matter of fact, in 2007 (when the economy first began to decline) 113,000 Texans joined credit unions. And credit union membership continues to climb, surpassing 7.35 million in September 2009. Worldwide, credit union membership has continued to climb and currently stands at 186 million! A recent TNS Trust Survey confirms that consumers have significantly greater trust and confidence in credit unions and regional banks. In fact, despite large-scale brand marketing initiatives currently underway, TNS, the world's largest custom research company, finds that the nation's large national banks, insurance companies, and brokerages are continuing to slip further behind smaller regional banks and credit unions in consumer trust ratings. Apparently, consumers believe the smaller players (which include credit unions) have greater understanding and reliability than the large national banks. So you’re ready to make the switch to a credit union…how do you go about choosing the right credit union for you and your family? Your first step is to make a list of what you need and want in a federally-insured financial institution. Want to learn more? Tune into our show when host Dick Ensweiler chats with two prominent Texas credit union CEOs about the steps consumers should take to select a credit union that best fulfills their needs, and why it’s important that they only do business with a federally-insured financial institution, like a credit union.