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
IMarketWatchI CUs no longer your fathers CU
NEW YORK (11/19/08)--The manner in which credit unions have evolved over the years and the advantages they offer consumers compared with other financial institutions was the topic of a Monday MarketWatch column. The column, “Not Your Father’s Credit Union,” by Jennifer Openshaw, discusses a reader’s response to a previous column. In it, she listed advantages credit unions have over traditional banks--such as not-for profit status, self-funding, better rates and lower fees. She also mentioned that credit unions are insured up to $250,000 through the National Credit Union Share Insurance Fund (NCUSIF). Benson Porter, CEO of Addison FCU, Palo Alto, Calif., and former Washington Mutual executive, reinforced credit unions’ advantages Openshaw had mentioned in the previous column. Porter then listed ways credit unions are “breaking old molds and evolving faster than some may realize.” Regarding credit unions, Porter told Openshaw:
* Almost anyone can join, which is a departure from the past when most credit unions solely served select employee groups; * Members can access financial services anywhere. In the past, most credit unions operated only on or near employer facilities. Today, the bigger credit unions have branches; * High-yield checking accounts are offered by credit unions, with up to 4.5% interest on balances up to $25,000, with unlimited free checking; * Business banking services are available that offer businesses checking and credit card processing; and * Investment services, which are like to rapidly grow in the current economic environment, are offered.
Other Resources

RSS





print
News Now LiveWire
A recent report from @TransUnion says consumers born 1981 or later made up 27% of total auto-loan originations in 2014, up 16% from 2009.
7 hours ago
.@CUNA says new House bill is "further evidence" of lawmakers' interest in how @TheNCUA uses its funds from CUs. See News Now Monday.
1 day ago
.@MECreditUnions announces winner of @YoungFreeME #SoundOff contest. @Sassquatch_Band will play Old Port Festival in June @PDD_Downtown
3 hours ago
House Financial Services Com. to hold March 3 hearing to receive the semi-annual report of @CFPB Director Richard Cordray.
3 hours ago
Rep. Jeff Miller (R-Fla.) re-introduced bill to ease veterans' access to loans for #smallbusiness purposes from a #creditunion (HR 1133)
5 hours ago