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
Maryland lawmakers join Move Your Money groundswell
ANNAPOLIS, Md. (3/9/10)--The Maryland General Assembly is considering legislation that would give credit unions and state-chartered banks an advantage when bidding to serve state agencies or local governments. The potential legislation comes in the wake of The Huffington Post’s recent Move Your Money campaign, which tells consumers to switch their deposits to credit unions or small banks from big banks that benefited from taxpayer bailouts and now are reluctant to lend (Baltimoresun.com March 7). “While you should switch banks only if it makes financial sense, the Move Your Money campaign does nudge us to review our relationship with banks,” wrote Eileen Ambrose, personal finance columnist for the newspaper. “That’s something all of us should do more regularly.” “Credit unions also are fans of the Move Your Money campaign, and some have started using the theme in their marketing, Mark Wolff, spokesman with the Credit Union National Association,” said in the article. The New York Times also noted consumer animosity toward big banks in an article titled “A Banking Battleground,” by Hannah Fairfield. “Tales of reckless lending and huge compensation for executives have led to major animosity toward major banks,” Fairfield wrote. “A ‘Move your Money’ groundswell was ignited in January by Arianna Huffington of The Huffington Post and Rob Johnson, director of the Economic Policy Initiative at the Roosevelt Institute. Their hope is to spur reform at megabanks by encouraging people to move their money to smaller community banks and credit unions.” To read the articles, use the links.
Other Resources

RSS





print
News Now LiveWire
.@LACULeague in @DailyComet: #creditunions' "old" benefits attractive to new generation http://t.co/AzOv3nB7IB
1 day ago
At @FTC request, court halts operations of an alleged debt-relief scammer calling itself “FTC Credit Solutions.” http://t.co/qMsDBmKExH
1 day ago
.@daytondailynews : The secret is out about #creditunions http://t.co/Aqu3pFTROV @DayAirCU @CODECreditUnion
1 day ago
.@CUNA's @Nussle on @SenatorReid :(2of2)On behalf of more than 102M #CU members,I thank him 4 his leadership over the yrs/wish him the best.
1 day ago
.@CUNA CEO Nussle on Sen. Reid’s decision not 2 seek re-election (1of2): Sen. Reid has a long history of #CU support throughout his career.
1 day ago