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CNN cites CUs as good source for cards

NEW YORK (6/9/10 CUNA)–Credit unions are an alternative for consumers who are looking for a good deal on credit cards, CNNMoney.com said Monday.

CNN cited a recent op-ed piece by two Harvard University doctoral students who discussed a study they conducted about investor-owned banks versus member-owned credit unions.

“They found that credit cards from credit unions were less likely to charge fees and penalties that big banks do,” CNN said. “And when fees are involved, those fees are less.

“Credit union cards actually offer lower annual fees and longer grace periods than regular cards,” CNN added.

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