While banks, particularly large banks, are often ridiculed for their excessive fees and impersonal service, very few complaints are ever levied against credit unions. That's four-tenths of one percent. If a bank has given you the cold shoulder, you'll get a warm welcome at your credit union. Not So, Mr. Banker, and Here's Why If we were all as ever-vigilant at Chris Anuswith, we might not ever have to worry about bank battles again. Chris saw his chance to make a point or two on behalf of us credit union folks.
Banks are all about limiting consumer choice and maximizing corporate profit.
It was only a few years ago that the American Bankers Association successfully sued America's credit unions and won an injunction denying consumers access to credit unions. Credit unions appealed unsuccessfully to the Supreme Court and were eventually forced to go to Congress for legislative relief which Congress passed by a vote of 503 to 14. President Clinton signed The Credit Union Membership Access Act into law on August 7, 1998. It took almost two years to gain passage of the Credit Union Membership Access Act but now Americans from all walks of life are guaranteed access to credit unions, which are member-owned, not for profit financial cooperatives who are all about people helping people. Now that the banks have made their lack of concern for consumers abundantly clear, my suggestion to Mr. Hendrickson and any consumer is for them to find a credit union or to ask their employer to offer credit union membership as a no cost human resource benefit.