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Credit Unions given a strong vote of confidence
January 1, 2009
Recent events in the economy have highlighted the importance of managing credit responsibly. Not coincidentally, credit unions have received a great deal of attention in the media. Stories in various media outlets have touted credit unions as safe financial institutions with a mind for responsible lending and personalized customer service.
According to John Ulzheimer, a contributor for CNBC's "On the Money”, consumers will "flock to credit unions where they truly are more than three digits and a credit report." Ulzheimer also cited insulation from the subprime mortgage crisis, a lack of shareholders for which to provide profits, and high liquidity as strong appeals of credit union membership.
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