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
AP Consumers new money mindset includes CUs
NEW YORK (9/24/09)--The recent recession has created a new mindset for consumers to take control of their finances, and one way to do that is to join a credit union, according to a Tuesday Associated Press article. “In ways big and small--from scrutinizing their bills and joining credit unions to scaling back weddings and college plans--people are finding creative ways to deal with the worst recession in a generation,” the article said. “In short, there's a quiet revolution taking place in the way people save, borrow and spend that represents a retreat from old habits, and the first steps toward new ones.” The article, “Meltdown gives consumers new money mindset,” by Candice Choi and Eileen AJ Connelly, says that because credit is harder to obtain nowadays, people are becoming more creative in locating sources of money. “Bank loan balances declined by 4.6% for the year ending in June,” the article said. “But credit union loan balances rose by 4.5%, according to industry associations. Credit unions--which are nonprofits and weren't as tangled in subprime mortgages--are in better shape to make consumer loans.” For the full article, use the link.
Other Resources

RSS





print
News Now LiveWire
Why a #creditunion can be a good fit for #smallbiz http://t.co/l7Df9b8vQZ @fundbox
1 hour ago
Who's most adept at saving these days? The middle class, says @Bankrate http://t.co/zVi7typdVU
1 hour ago
.@OregonCCU donates $20K in Sprint program monies to @CMNHospitals @CU4Kids via @NWCUA http://t.co/0wTAH5NTNI
2 hours ago
.@TheNCUA posts latest economic update videol discusses 2015 outlook and "looming risk." https://t.co/hMYTAuvzMz
2 hours ago
.@TheNCUA issued orders prohibiting 7 from participating in affairs of any federally insured FIs. See #NewsNow Wed. http://t.co/UFBxuYDB8T
4 hours ago