New program will invest in Vermont cooperative businesses05/16/2016VSECU invests in state cooperatives by starting a program called Co-op Capital. VSECU is the first to offer such a program in the state - only a handful of states permit credit unions to make equity investments in other cooperatives. “We actually think it's good business. Co-ops also naturally circulate money within the economy because the owners are the patrons,” explained VSECU CEO Rob Miller.
Credit unions bulk up to service as ranks thin05/15/2016Arizona credit unions embark on aggressive campaign to expand membership, assets, and branches while maintaining personal connection.
Partners in education: students run bank branch for youth apprenticeship05/12/2016UnitedOne Credit Union opens a student-operated branch in local high school as part of Youth Apprenticeship program. The program not only educates students on money management but gives them hands on experience with finances.
Wisconsin’s Royal Credit Union is acquiring St. Paul bank05/11/2016It's official: Royal Credit Union of Eau Claire, WI, is acquiring Capital Bank in St. Paul, MN. Royal Credit Union president/CEO Rudy Pereira aims to complete the bank's move to a credit union later this year.
Profit up 6.5% among Wisconsin credit unions05/05/2016Wisconsin credit unions recorded a net income of $72.3 million in the first quarter of 2016. The data was released by the Wisconsin Department of Financial Institutions. “As the Wisconsin economy continues to strengthen, credit unions are doing their part by providing the financial products and services that their members need to prosper,” explained DFI Secretary Lon Roberts.
Credit unions, community banks engage (yet lose) customers05/05/2016Credit unions have higher member engagement compared with national banks, cited in new Gallup survey. The survey found that 52% of credit union members identified themselves as being fully engaged compared with 17% of national bank customers.
Mountain West Credit Union Association recognizes two execs05/02/2016The Mountain West Credit Union Association honors two credit union professionals. Gerry Agnes of Elevations Credit Union in Boulder, Colo., was recognized as professional of the year. Phil Showalter of Public Service Credit Union in Denver was honored as volunteer of the year.
Greenville high school students to run branch of federal credit union05/02/2016Greenville (S.C.) Federal Credit Union will open a student branch at local high school. Student workers will be able to earn course credit and gain hands-on financial experience by working at the branch. The student-run credit union branch will be open for the 2016-2017 academic year.
WISN 12 news takes part in ‘magic of storytelling’ initiative04/28/2016Educators Credit Union and WISN 12 News, the local ABC-affiliate, are working together to help deliver thousands of new books to local children as part of Magic of Storytelling initiative. Books will be donated to the Boys and Girls Clubs of Milwaukee as well as, nine other organizations. “There's something so powerful about being given a brand new book,” commented Patricia Marcus of the Boys and Girls Club of Greater Milwaukee.
Eau Claire’s Royal Credit Union acquiring small bank in Twin Cities04/28/2016Royal Credit Union of Eau Claire, WI, plans to acquire Capital Bank of St. Paul, MN. Once the merger goes through, it'll be the ninth time a credit union has purchased a bank since 2011. A growing trend in some states. "Capital Bank is known as the 'community bank within the city,' and we feel its current customers will be pleased by our commitment to providing exceptional financial value, great service and community giveback where the member comes first," summarized Royal Credit Union president/CEO Rudy Pereira.
Students learn financial reality04/25/2016The Northwest Credit Union Foundation and St. Helens Community Credit Union hosted a financial reality fair for local high school seniors. The fair gave students the opportunity to “quickly learn that the decisions they make today can directly affect their future,” explained St. Helens Community president and CEO Brooke Van Vleet.
Fixing your finances: tips for first time home buyers04/21/2016Buying your first home can be a bit daunting - that's why AmeriChoice Federal Credit Union marketing director Brittney Monteith offers advice to potential homebuyers. Monteith suggests buyers think about the geographic and economic stability when looking to buy. Think about if you're able to live in that home for at least 5-7 years in order to build up equity. Finally, make sure to get pre-approval before beginning your search - which will tell you how much home you can afford.
Safe at home: small credit union dodge rule requiring office space04/21/2016It appears that the NCUA recognizes the role home-based credit unions play in their local communities and does not intend to add even more regulatory burden to these small credit unions. There are about 85 home-based credit unions in America and these small institutions provide financial options for those in rural areas while offering world-class customer service - some are even open to members 24/7! The paper points out that unlike banks, credit unions are not-for-profit cooperatives whose members share a common bond through a job, church, family relationship or some other kind of affiliation.
New business spotlight: Centex Citizens Credit Union dedicated to helping people04/17/2016Centex Citizens Credit Union brings a futuristic, state-of-the-art branch to Corsicana, TX. The branch offers cutting edge technology that includes teller pods and cash recycling machines. Not only is the branch being forward looking and innovative with technology, they're also helping to best serve their members. “We want to help all families, individuals and especially people of modest means with free checking, savings, CD's and mortgage loans,” explained Centex Citizens Credit Union Corsicana branch manager Debbie Wilson.
Credit unions vs. banks: which are better?04/13/2016Money Talks News looks into the pros and cons between credit unions and banks. Credit unions pay more on savings, charge less on loans (especially car loans), and offer lower rates on credit cards. In addition, they offer more flexibility on lending and have free checking accounts. In sum, if you want to earn more and pay less, you should head to a credit union!
2016 banking landscape report04/08/2016Credit unions top the list for best value in checking by WalletHub. Credit unions had the highest ranking in WalletHub's checking report, gaining 1.47% in the first quarter of 2016. WalletHub analyzed the rates, fees and features of more than 2,300 accounts in checking, savings, money market, and CDs from banks and credit unions all shapes and sizes.
Apple Pay adds another 32 banks and credit unions across the US04/05/2016Apple Pay adds more credit unions to their list of Apple Pay providers. This week fourteen more credit unions joined Apple's mobile payment solution. Members can now add their credit union debit and credit cards to their Apple Wallet on their phones.
Credit unions putting a special emphasis on children’s programs for handling finances04/03/2016Credit unions stress the importance of providing financial education to children during National Credit Union Youth Month. In particular, Coosa Valley Credit Union and Northwest Georgia Credit Union offer programs for parents and schools to use when teaching children the basic concepts of finance. Coosa Valley Credit Union has a 'Savings Crew' club for children under the age of 12, which offer workbooks and videos to introduce them to the basic concepts of finance. Northwest Georgia Credit Union, which was honored the 2015 Desjardins Youth Financial Education Award for their financial literacy initiatives, developed and copyrighted a financial literacy program for local schools titled “learn.grow.”
Midstate credit unions partner on financial literacy children’s book04/01/2016Central Pennsylvania credit unions are providing a financial literacy book to coincide with start of 'Financial Literacy Month' this April. The children's book 'Boxcar Indy Goes to Doggy World' written by Tracey C. Jones is being distributed to mid-state credit unions. “Our goal with 'Boxcar Indy Goes to Doggy World' is to show kids that saving money and investing is achievable,” explained Mid-Atlantic Corporate Federal Credit Union president/CEO Jay Murray. “By providing financial literacy tools like this one, credit unions can help children - our future members - learn to manage their finances, but in a fun way.”
More community bank takeovers by large credit unions are likely03/30/2016More banking customers are becoming credit union members due to what some believe is a trend within a trend: large credit unions taking over smaller community banks. Wisconsin's largest credit union Landmark Credit Union acquired Hartford Savings Bank in 2014, helping to raising awareness of credit unions in the area. Advia Credit Union in Michigan recently announced plans to take over Mid America Bank. Once the acquisition is final, it'll be the eighth time a credit union has purchased a bank since 2011. "This is not slowing down," said Michael M. Bell, a mergers-and-acquisitions specialist who represents credit unions with the firm Howard & Howard in Royal Oak, Mich. "It's a trend both nationally, but certainly in the Midwest and Wisconsin."