Four Consumer Myths About CUs Posted by Association of Vermont Credit Unions on 11:39 AM

CUNA-sponsored consumer research reveals that credit unions are associated with better loan rates than banks, lower fees, friendliness, and being highly trusted.  But the same research also unearthed 4 common myths among consumers about credit unions:

1. People don’t think they can join. There’s the perception that credit unions are limited to certain occupations or groups.
   
2. Credit unions are for those in need, and membership is for those lacking in financial success or status.
   
3. Credit unions don’t provide convenient access to money. Many people fear that credit unions are behind on technology and that they don’t have nationwide ATMs.
   
4. Credit unions are too small. While credit unions are seen as warm and friendly, they’re also viewed as lacking sufficient scale and presence.

Read more about the CUNA Marketing & Business Development Council's Credit Union Awareness Initiative, and what measures they recommend to make credit unions top-of-mind as consumers’ best choice in financial services.