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
Cupid's bow busy with Valentine's Day card use
RANCHO CUCAMONGA, Calif. (2/19/14)--Cupid must have been helping credit union members choose chocolate and "Cake Boss" during Valentine's Day shopping. Analysis of debit and credit transactions by card-holding credit union members showed a 19% increase across 16 types of merchants compared with last year.
 
According to CO-OP Financial Services Total Revelation's report, this year members spent more money on restaurants; cable, satellite and other pay television services; and groceries than they did in 2013.
 
Stan Hollen, CO-OP Financial Services President/CEO, said, "Valentine's Day this year happened to fall on the Friday before the three-day President's Day weekend, which perhaps fueled additional spending on what is normally a busy day for merchants."
 
CO-OP Total Revelation's analysis also found:
  • Restaurants saw a 20% percent increase in dollars spent compared with 2013;
     
  • Cable, satellite and other pay television services rose by 28%.
     
  • Grocery stores experienced the most sales in 2014 with 3 million separate transactions and $135 million in spend--a 17% increase year over year; and
     
  • Individual number of cash withdrawals increased by 18%.


RSS





print
News Now LiveWire
.@NACHAOnline report: ACH volume increases to 23B payments in 2014 http://t.co/va2WYMh4Zv
12 hours ago
.@CUNA's @HampelBill in @washingtonpost on options for wary mortgage borrowers: http://t.co/CPSgTNgwmm
17 hours ago
Housing starts thaw, mortgage rates stand pat #Market #NewsNow http://t.co/hhPj5v5AH3
18 hours ago
.@CUNA files #RBC2 comment, urges #CU system to be heard #NewsNow http://t.co/yfoZHAMlZc
18 hours ago
#NewsNow Youth Month attracts 100,000th member for Mich. CU http://t.co/cgF5o83XlK
18 hours ago