Pennsylvania Credit Union Association

Credit Union Credit Cards Save Consumers Money

HARRISBURG — Credit cards have become an important staple in our wallets and more than half of all American’s carry more than one. With the average consumer holding $4,208 in revolving debt (mainly on credit cards), carrying the right card can save the cardholder money.

According to an analysis of credit union credit card programs processed by the Pennsylvania Credit Union Association’s subsidiary corporation, consumers save money on interest and fees by simply using a credit card issued by a credit union.

With 55 percent of credit card holders carrying a monthly balance, a low interest rate is important.  The average purchase APR for Credit Union Credit Cards was 11.03 percent; compared with the national average of 14.39 percent. 

On the fee front, members also pay significantly less. On late fees, the average for credit unions is $15.50 versus a national average of $34.09.  On the credit union accounts, the average over-limit fee was $16.82; verses the national average of $36.53.  In addition, 96 percent of the credit unions did not charge an annual fee; and 92 percent did not charge account inactivity fees.

“Our research validates what we have been saying, that consumers save money by using credit unions – which is very important during our rough economic times” said Association CEO Jim McCormack. “Further, other studies have consistently shown credit unions provide better customer service as well.”

PCUA manages classic, gold, and platinum credit card accounts for cardholders from credit unions operating in Pennsylvania and Vermont. 

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The Pennsylvania Credit Union Association ( is a trade association that provides legislative, promotional, educational, and operational support for nearly 500 credit unions in Pennsylvania. These credit unions have assets in excess of $27 billion and serve nearly 3.5 million members.