Audio: the Benefits of Credit Unions

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That accept your job as your security.

And they employ people that do not work where you do necessarily.

And that is all good.

But as they grow, they often become part of larger groups of credit unions and lose a lot of that localness.

Yes, Stephen Colbert, you can borrow that new word: localness.

But they are as good as their membership.

If members act irresponsibly, they cost their fellow workers.

As long as all members play by the rules, they are a great vehicle for establishing credit for people--especially young--that would have a hard time doing so without them.

HillbillyBill of TN 8:02AM October 29, 2008

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Alpha Consumer

Alpha Consumer

Kimberly Palmer, senior editor for U.S. News & World Report, is the author of Generation Earn: The Young Professional's Guide to Spending, Investing, and Giving Back. Send her your personal finance questions.


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