Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
CUNA's Gentile Explains CU Difference On Dakotas Radio
BISMARCK, N.D. (5/2/13)--Credit unions' value as not-for-profit cooperatives in today's economy was the subject of Credit Union National Association Executive Vice President of Strategic Communications and Engagement Paul Gentile's recent appearance on the Legislature Today Radio Hour, sponsored by the Credit Union Association of the Dakotas.

"We serve Middle America, given that we have 40% of the population as members, but just 6% of the marketplace," Gentile told CUAD. "Credit unions have no outside shareholders to please with high profits." 

Credit unions can play an important role in the economic recovery through small-business lending, he said, noting that credit union small-business loans average $217,000. "We do the true mom and pop loans that are so important to local communities, but banks don't want to touch," Gentile added.

The broadcast also featured Rep. Mark Owens (R-Grand Forks), a board member of First Liberty FCU, Great Falls, who noted the credit union's member business lending (MBL) for landscape trucks.

CUNA and credit unions are urging Congress to raise credit unions' MBL cap to 27.5% of assets, from the current 12.25% level. Doing so would generate $14.5 billion available for MBLs--and increase jobs by 158,000 in the first year without costing the taxpayer, according to CUNA statistics.

Gentile also spoke about aSmarterChoice as an outlet for consumers to find a credit union they can join. "Consumers can't join all credit unions, but there's certainly a credit union for everyone," he said.

Raising awareness about the value of credit unions is a key component of credit unions' Unite for Good campaign to achieve the strategic vision: "Americans choose credit unions as their best financial partner," CUNA says. For more information, use the link.

To listen to the CUAD Legislature Today Radio Hour, use the link.
RSS print
News Now LiveWire
July 's Fed Bank's "FedFocus" has some interesting articles: incl cost/benefits of $1 currency 2 coin conversion ttp://tinyurl.com/nybmnhh
8 hours ago
Do you wish you were a News Now subscriber? Go here: http://t.co/7evfBSjeMx
8 hours ago
Financial education for student body key part of Altura #creditunion, UC-Riverside partnership #NewsNow http://t.co/Xp6OJd66o6
9 hours ago
.@VTcreditunions gains 200 new FB followers in just 2 wks to reach 1,000 http://t.co/I89xJcv4Jg
10 hours ago
.@CUNA is testifying on reg relief Tues,July 15 at 2 p.m. be4 Hs Fin Serv Subc. Here is the agenda and witness list: http://t.co/yBRhlmdqHt
12 hours ago