Credit Unions in the News

Most Recent

Credit union opens student-run branch in Goose Creek08/27/2015High school students are now running a Heritage Trust Federal Credit Union branch at their school.  The branch is open for business during the two-hour lunch period for students, staff, and faculty. “We saw a need on the student level to teach financial literacy — how to save, how to balance a checkbook and so forth,” said Jim McDaniel, president/CEO of Heritage Trust FCU. He commented on his hopes for the future observing the great opportunity to get into schools where these kids can have a hands-on experience in a work-style environment as part of their curriculum.” 

Credit unions see sizzling loan growth in June08/25/2015In June, 2015, America’s credit unions experienced a growth in membership and a 1.4% increase in loan portfolios.  According to the latest Credit Union Trends Report from CUNA Mutual Group, credit union lending and membership grew tremendously this summer. CUNA Mutual Group chief economist Steve Rick predicts "credit union mortgage lending should increase as improving financial positions among borrowers and rising incomes justify loosening credit standards."

Lessons learned on the ‘Road to Financial Wellness’ with Phroogal’s Jason Vitug08/21/2015Phroogal’s Jason Vitug gives CU Insight a post debrief on his epic month long ‘Rose to Financial Wellness’ journey in America. Vitug explains they surpassed their goal by hosting 37 events in 30 cities. Vitug explains the purpose of this nationwide road trip was to have money conversations with millennials and to inform them of the benefits of credit unions.

Rutgers again hunger provides snacks for New Brunswick children08/18/2015In conjunction with the Federal Summer Food Service Program, Affinity Federal Credit Union donates snacks to young children participating in New Brunswick’s summer Play S.A.F.E. Program

SECU president and CEO Rod Staatz named most admired CEO08/18/2015SECU president and CEO Rod Staatz has been named the Most Admired CEO Award by the Maryland Daily Record. As president and CEO for more than 12 years, Staatz has led the growth of SECU to become the largest credit union in Maryland. Staatz has also spearheaded SECU's ongoing work with young adults around financial literacy and has been a staunch supporter of the credit union's involvement in the community. 

Getting down to business with Questa Credit Union’s Maxine Rael08/17/2015Quest Credit Union manager Maxine Rael explains the "people-helping-people" philosophy of credit unions and many of the lessons learned in her 30 years with credit union. 

County credit unions have $10 billion in loans to members08/14/2015San Diego County credit unions account for $10 billion loaned out to members of the community. An increase in auto loans contributed to this growth as new car loans increased 40% while used car loans grew by 21% as of June 30, 2015. 

New UCCS Ent Center for the Arts a boon to local arts organizations; groundbreaking Thursday08/13/2015Ent Federal Credit Union joined several University of Colorado at Colorado Springs leaders, state and local elected officials and community visionaries for the groundbreaking ceremony of the Ent Center for Arts in Colorado Springs. Ent’s naming rights for the building are the result of a 15-year contract extension between UCCS and the credit union due to the key role the University plays in the community. 

If You Shred It They Will Come: SDCCU Sets Guinness Record08/13/2015San Diego County Credit Union announced Wednesday it officially set a Guinness World Record for the most paper collected in a 24-hour period at its annual Super Shred event last month. A total of 584,350 pounds of paper were shredded and recycled, saving approximately 5,000 trees. More than 10,000 people turned out at Qualcomm Stadium on July 25 to properly dispose of confidential information and set a new record. 

Getting approved for a credit card: what you need to know08/13/2015Grow Financial Federal Credit Unions explains how they conduct credit approvals. During the application process, Grow Financial FCU reviews the applicant's FICO score, annual income, and unsecured debt ratio. Fortunately for many borrowers dealing with medical debt, they won’t be penalized during the review process. As James Esner, underwriting manager at Grow Financial FCU, explains "a lot of times those are just bickering [disputes] between an insurance company and a hospital, so we don't really let that ding you.”

The best companies for customer service08/12/2015Credit unions score the top rating in a customer service study conducted by Consumer Reports. Credit unions and, in particular, SchoolsFirst Federal Credit Union in California, take the number one spot for superior customer service. The results are reflective of consumer opinions compiled over the last three years.

GTE Financial celebrates 80 years of serving individuals and businesses08/11/2015GTE Financial celebrates its 80th anniversary in a big way by implementing a contest that will cover one lucky member's mortgage or rent -- up to $160,000 -- for 80 months. GTE has extended this contest to its employees as well and the winner will have their mortgage or rent covered for 36 months, up to $72,000. Since the announcement of the GTE contest, more than 1,700 members have submitted entries. 

TransUnion: Credit unions go big in mortgage originations08/11/2015In a new TransUnion research study, credit unions came out as the top preferred financial institute for providing mortgage loans. While mortgage originations have generally declined the past few years, this hasn't been as extreme for credit unions. “In the last year alone, it appears significantly more credit union executives are seeing growth in this area. Credit unions are becoming bigger players in the mortgage loan market, something that may serve them well in the future as the housing market continues to recover,” explained Nidhi Verma, director of research and consulting at TransUnion.  

Credit unions are more than just financial partners08/10/2015Cornerstone Credit Union League CEO Dick Ensweiler proclaims that credit unions are more than just financial partners by providing examples of how credit unions go the extra step in servicing members beyond corporate hours and days, and providing drive-up services.  Also of paramount importance is the role credit unions play in developing countries and through natural disasters.

The Maine Credit Union League is helping keep pantries around Maine full this summer08/05/2015To fight hunger, the Maine Credit Union League is donating six hundred dollars’ worth of food, reflective of at least two pantries in each of the state's counties.  The campaign, "Share the Bread", raises awareness regarding the food assistance needs of its low-income residents.

Lending demand soars at state credit unions08/05/2015A strong performance by Wisconsin credit unions is attributed to the state's growing economy. The area of growth has occurred primarily in mortgage lending, especially among first-time home buyers.  "In general, credit unions overall are doing better," said Brett Thompson, executive director of the Wisconsin Credit Union League.  UW Credit Union recently exceeded the $2 billion asset milestone and have joined the ranks along with three other credit unions in the same asset range.

Five questions with: Paul Gentile08/04/2015Paul Gentile, president/CEO of the Massachusetts, New Hampshire, and Rhode Island Credit Union Leagues sat down with Providence Business News to discuss their ongoing charity efforts.  Despite the merger between the three states, Gentile confirmed that all charity efforts will continue to remain in those very same local communities.

Best money moves for August08/03/2015August is a great time to fortify your wallet by organizing your financial accounts.  Nerdwallet suggests consolidating your accounts into one at your nearest credit union.

Why you should bank with a credit union08/03/2015Camino Federal Credit Union has produced a one-minute, one-money tip video that explains the benefits of why folks should choose credit unions over other financial institutions.

Let’s get personal: credit unions in Nevada08/01/2015Despite the financial downfall in 2008, credit unions in general fared much better than other financial institutions. Silver State Schools Credit Union president/CEO Andy Hunter explained that while some credit unions in Nevada were merged out of existence, the remaining credit unions are much stronger and currently thriving: "The main contributing factor to their [credit union] success is the positive perception among American customers.”