Credit Unions
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The banking industry has continually failed to recognize that credit unions present a vital alternative to consumers in obtaining financial services. The Times in its Dec. 6 editorial, “Quit Picking on the Little Guys,” poignantly reminded the banking industry of the clear need for consumer access to credit unions, and accurately reported that banks’ blatant efforts to eliminate credit unions are indeed misguided and greedy.
If the banking industry is successful in denying consumers this important financial services option, banks will have no direct competition. Without competition, banks will be free to treat all consumers as they see fit--by increasing fees, lowering savings rates and providing poor customer service, all in the name of reaping record profits.
With every lawsuit filed by the banking industry against credit unions, we are reminded of the critical need for a consumer-friendly, nonprofit alternative.
JUDITH McCARTNEY
President, Orange County Federal
Credit Union, Santa Ana
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