Through independent research and innovation, the Filene Research Institute explores issues vital to the future of credit unions and consumer finance.


CU Tomorrow Blog

  1. Resolved: Folks Love Credit Unions. Come see why …

    Lifehacker

    Anecdotal research usually plays second fiddle to hard numbers … but it’s also more fun.

    On Friday, the Lifhacker blog (ranked #6 in the respected Technorati standings) asked folks to consider the merits of a credit union during strange economic times.

    Lifehacker’s implicit recommendation turned into a gushfest, with 75 mostly positive comments, like:

    I’ve been with my credit union for 25 years and couldn’t be happier. I get better service with my piddly personal accounts at the CU than with my substantial business accounts at the local bank. (My CU doesn’t do business accounts. sigh) Free online bill pay, free checking, branches all over my area, no lines in the branch, and much friendlier and competent tellers. What’s not to like?

    AND

    My CU has always been great. I see no reason to use a regular bank. All my friends do and they always get charged a bunch of fees for this and that. Not me.

    The comments revolved mostly around low fees, local focus, heroic member service and anti-corporate banking. The few complaints latched onto geographic barriers and low-tech online offerings.

    Let’s be honest, a Lifehacker post about the iPhone or GTD would have garnered ten times as many comments. BUT, all in all, they like us; they really like us.

    categories » Filene News, Market Structure and Field of Membership, Philosophy and Values, Technology

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