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By Alissa Green
Did you see the recent Chicago Tribune article detailing why credit unions are growing increasingly popular in the U.S?
If you missed the article by Gregory Karp, or are looking for a summary, check out the key facts below that show how credit union memberships have risen recently:
The article quotes a variety of smart sources, including Patty Briotta, spokeswoman for the National Association of Federal Credit Unions. Briotta had our favorite quote, as she really hits on what the key differences are between a credit union and a bank. Before you read the quote, think about how you’d explain the differences to a friend.
“Credit unions, unlike banks, are owned by depositors, so as a member you're the boss. Because credit unions don't have to make a profit for shareholders, they return their gains to members in the form of fewer and lower fees, lower loan rates and higher yields on savings.”
Briotta NAILED it, right?
Karp went on to detail the Top 10 things you should know about Credit Unions. You should read his writing (Witty! And informative!), but we’ll highlight Alliant’sTop 5:
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