Most Consumers Don't Know What a CU Is

SAN FRANCISCO (11/21/00) - The two-year CU Campaign for Consumer Choice shows the effort to pass HR 1151, the CU Membership Access Act, has had a negligible impact on the public's knowledge about credit unions, a new study indicates.

The study, conducted by the California and Nevada CU leagues, found that most people don't know what a credit union is, that most credit union advertising is wasted, and that banks offer friendly service.

The study, conducted among 1,300 consumers in 11 California and Nevada markets, found most respondents consider credit unions a good place to get a loan but not to do everyday financial business.