Credit Unions in the News

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Two schools get Utah Credit Union grants for classroom equipment03/16/2015The Utah Credit Union Association is on a mission to improve education in Utah by enhancing and expanding classroom level resources and programs. They recently awarded math and science programs across the state for classroom supplies that will provide students with greater opportunities to learn. 

Credit Unions Rev Auto-Loan Growth Engines03/15/2015U.S. credit unions are accelerating their growth in auto lending as the economy improves and many of the financial institutions make a concerted effort to go after car buyers.

Why U.S. Eagle Federal Credit Union has a board full of teenagers03/13/2015The junior board at U.S. Eagle Federal Credit Union has a budget of $5,000 and are tasked with getting involved in the greater community via youth entrepreneurship, community service and developing a product or service benefiting that community. "...merging things like this [financial literacy] with what I'm currently learning [finding variables] would be useful and beneficial to high school kids — they're transitioning to the real world," said Ryan Franco, a junior at Eldorado High School who sits on the board. 

The trickledown economics of credit unions03/11/2015Unlike big banks, credit unions are not-for-profit, cooperative, tax exempt organizations that are owned by their depositors. This makes credit unions the one place where trickledown economics actually work. In addition to the better deal they can give depositors, credit unions also loan money to local people and businesses sometimes with a specific focus on supporting low-income communities. Bottom line, credit unions are better for people and local economies than big banks.

12 great reasons to drop your bank and join a credit union03/11/2015It's easy to confuse credit unions with banks. They offer many of the same services and, from the street, their operations look similar. But peek under the hood, and you'll find major distinctions. Depending on your needs, moving to a credit union could save you some serious money.

Student operated credit union helps local teen gain experience03/09/2015Waipahu High School is hosts a student operated credit union in partnership with the Hawaii USA Federal Credit Union. "The opportunities and experiences in and of itself are huge. But when we can go ahead and provide some financial resources for our students, and support them in that way, it makes the learning opportunity all the more real," says Waipahu High School Principal, Keith Hayashi.

Why credit unions aren't as complicated as they seem03/06/2015The concept of a credit union may seem complicated or unfamiliar at first, but one of the purposes of this unique, not-for-profit financial institution is to promote its members' monetary wellbeing. "We offer everything people can get at a large bank with better values, lower fees, lower loan rates, and higher rates on saving products," said Matt Herrick, vice president of sales and marketing of Southland Credit Union. "Frankly there is a lot of value for potential members. We do offer some of the best rates out here, with a much lower fee structure."

Credit unions beat banks on checking fees02/26/2015Credit unions continue to offer free checking accounts to their members at a high rate, while more and more banks continue to charge for them. Nearly three-quarters of credit unions (72%) offer free checking, compared with only 38% of the largest banks in the United States, according to a recent report from

7 reasons millennials are turning to credit unions instead of banks02/23/2015Among the many reasons millennials are becoming credit union members is lower fees and better options. "Once I learned that credit unions often have no fees at all, I switched right away." said the 32-year-old Millennial. "The credit union understands that I may not be able to keep a large balance in my account and they do not punish me for this." 

Credit union contest is on the money02/18/2015Eleven Northeast Ohio credit unions will team up this spring for the first time to promote financial education to local high school students through the "Mad City Money" scholarship competition April 18 at Lakeland Community College. More than 300 students will compete in a family budgeting competition for a chance to earn a $3,000 college scholarship. The program, subsidized by a grant from the Ohio Credit Union Foundation, has been an annual affair for Cardinal Credit Union, but this marks the first year for the partnership with other institutions. 

9 reasons to love credit unions (and not big banks)02/18/2015Unlike big banks which are profit driven, credit unions are owned and operated by their members. This crucial difference enables credit unions to focus on the financial interests of its members by offering a higher savings rate, lower fee and lower rates on loans.

Behind the list with Christine Andrew of NE PA Community Federal Credit Union02/16/2015Christine Andrew, business development specialist at NE PA Community Federal Credit Union in Stroudsburg, answered questions about the services and benefits of belonging to a credit union. The credit union provides on-site professional counseling services to members. The NE PA Credit Union also has student branches located within two local high schools. These branches are staffed by high school students, with an on-site supervisor from the credit union.

Credit union uses acts of kindness to 'spread the love'02/15/2015Inspired by the community and national outpouring of support for James Robertson, officials at the Public Service Credit Union in Romulus, Michigan decided to "pay it forward." Employees spent about $500 to fund various acts of kindness, such as handing out food and filling up gas tanks, to the amazement of credit union members and residents of the Romulus area. The campaign, called "Spread the Love," is creating awareness in the local community. 

Credit union to expand current community charter02/12/2015The Enfield Community Federal Credit Union (ECFCU) announced that they have been approved by the National Credit Union Association to expand its community charter. This expansion allows membership to be available to any individuals who live, work, worship or attend school in and businesses and other legal entities located in Hartford County, Connecticut or in Ellington, Somers or Stafford in Tolland County.

GTE Financial opens student-run credit union at Southeastern University02/11/2015Working to ensure that college students are financially literate, a student-run credit union in Lakeland will teach fellow students financial literacy both inside the credit union and in personal finance classes required by Southeastern University.

Prospera Credit Union offers free budgeting seminar02/09/2015Just in time for tax season, Prospera Credit Union in Menasha is offering a free budgeting seminar. The seminar will be on how making a budget can impact money management and provide tips on making choices on must-haves, wants and savings.

Bill would require new data-breach rules for NM businesses02/09/2015New Mexico, Alabama and South Dakota are the only three states that don't have laws requiring businesses to notify customers of data breaches when their credit information is stolen. Legislation has been introduced in the state to require notification and Paul Stull, the president and CEO of the Credit Union Association of New Mexico, said the bill is a way to curb data breaches and let customers know they have protections before those protections expire. "It gives a merchant, once they learn of the data breach, 45 days to notify their customers," Stull said. "This is good because a lot of times the zero-liability protections on fraud run out at 60 days."

Why 2015 is the year to switch to a credit union02/07/2015Data compiled by SNL Financial and the National Credit Union Administration suggest that credit unions offer lending rates that are on par or better than the nation's banks. The average credit union prices its credit cards, car loans, and mortgages at rates lower than the average for-profit banking institution, in part due to the efficiency of a not-for-profit business model.

Money Month: Credit unions VS banks: what's good for your money?02/05/2015Bill Maurin, President and CEO, Meridian discusses why credit unions are taking market share from the big banks.

Ready to grow: Sno Falls President/CEO has big plans for credit union02/02/2015Tim William, President and CEO of Sno Falls Credit Union in Washington is working with his staff to push out innovations and new products including: a recently completed rebranding effort, the launch of a new website in December, the new checking account offering this month, the new computer system to be implemented in February, and the updated online banking system and mobile banking app. And that's just the start – there's good things ahead here!