Finding Ways To Save You Money.
posted: 07/25/2012
There are many ways MECU strives to keep more money in the pockets of our members. One of the chief ways we accomplish that is by charging less for fees. A lot less, you’ll be pleased to know.
According to a recent report by Raddon Financial Group, an Illinois-based research firm specializing in financial services, MECU typically charges lower and fewer fees compared with not just banks but also credit unions.
Key findings in the report include:
- MECU ranks in the 94th percentile for “member fee giveback” (in other words, 93% of the credit unions in the study charge more than MECU).
- Average per-household annual fees charged by MECU are $40; that compares with a national average for credit unions of $95.
- Community banks charge even more in fees each year — approximately $105 per household on average.
At MECU, we believe saving you money starts with charging you less. Ultimately, it reflects our commitment to do the right things to help our members get ahead financially.
And nobody knows more than us that keeping our fees fewer and lower — and always fair — is important to everyone.
John C. Fiore
President and Chief Executive Officer
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