ST. LOUIS (AP) - Credit unions in Missouri are increasingly offering attention-grabbing promotions like free gas or new mobile apps to lure customers in a crowded banking environment.
The St. Louis Post-Dispatch reports that First Missouri Credit Union employees gave out $4,000 in free gas this past week at a south St. Louis County Petro Mart. Cars lined up for hours in advance.
It was part of a larger effort by nearly 40 credit unions and community banks in Missouri and other states to persuade people to switch from larger national banks.
Credit unions are nonprofit cooperatives that are owned by their members. Most have opened up their memberships and are no longer restricted to a single industry