Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
'Bank on California' draws more CUs than banks
SACRAMENTO, Calif. (1/14/13)--Credit unions so far outnumber banks as participants of Bank on California, a voluntary collaborative initiative in eight communities to provide unbanked households access to mainstream financial products and services.

Seven credit unions are participating, compared with six banks, according to Teveia R. Barnes, commissioner of the California Department of Financial Institutions (DFI), which is administering the initiative (Monthly Bulletin Jan. 11). DFI is the regulator for state-chartered credit unions and banks.

The credit unions participating include:

  • The Golden 1 CU, Sacramento;
  • Orange County's CU, Santa Ana;
  • Patelco CU, Pleasanton;
  • Redwood CU, Santa Rosa;
  • SAFE CU, North Highlands;
  • Schools Financial CU, Sacramento; and
  • Travis CU, Vacaville.
Unbanked consumers in the state will have access to no- and low-cost checking and savings accounts and to financial education through the credit unions' participation.

Much of the state's population comes from countries where bank deposits are uninsured and there is little opportunity to have a banking relationship, said Barnes.


RSS





print
News Now LiveWire
What is the @NCUFoundation ? Watch this Foundation video: http://t.co/iC6XoInU7r
2 hours ago
Follow @cumagazine for even more #CUNAGAC live-action reports March 8-12 #creditunion #creditunions #UniteForGood
5 hours ago
Make sure 2 follow us @NewsNowLiveWire ,and @cuna , during March 8-12 Governmental Affairs Conference #CUNAGAC #crashthegac15 #UniteForGood
5 hours ago
Memberships, loans continue positive trend: @CUNA's monthly survey #NewsNow http://t.co/QnAlJ4DB3O
5 hours ago
Grand opening of @McGrawHillFCU's branch puts high touch on member service #NewsNow http://t.co/RlnJNrcwM8 #Backat55
5 hours ago