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Released: June 19, 2010

Credit unions beckoning with open arms

Source: Ron Lieber, New York Times (Free Registration)

Everyone can join a credit union, but not everyone can join any credit union.

This turns out to be a source of much confusion for consumers looking for a better checking account, a more generous credit card or a cheaper auto or home loan. By their very name, credit unions suggest exclusivity. After all, unions are something you have to join, and it isn’t always clear from walking by a credit union or running across one on the Web whether everyone is welcome.

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