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

CU System Archive

CU System

Arizona State CU Sets Up Fund For Fallen Firefighters

 Permanent link
PHOENIX (7/3/13)--"Stunning" was how an Arizona State CU executive described the loss of six members and one former member who died while battling the Yarnell Hill Blaze in Arizona. The credit union is accepting donations to support the families impacted by the loss of the Granit Mountain Hotshots Crew from Prescott, Ariz.
 
The credit union will match up to $20,000 of direct contributions, and will recognize donors by name on its website.
 
The firefighters were employed by the city of Prescott, which is among the select employee groups served by Arizona State CU, based in Phoenix.
 
"There certainly were personal connections with some of these firefighters," said Paul Stull, Arizona State CU senior vice president. "Some people are understandably taking it very hard. There is great concern for the families."
 
The seven firefighters were among 19 who died while battling one of the worst wildfires since 1933. It was the biggest loss of firefighters since 9/11 claimed 343 New York Fire Department personnel (USA Today July 2). The fire was started Friday by lightning.
 
At least 8,400 acres were ablaze on Monday and 200 homes devastated in the towns of Glen Isla and Yarnell,  30 miles south of Prescott and about 85 miles southwest of Phoenix
 
Arizona State CU is prepared to assist members affected by the fire. The credit union will offer a 90-extension on loan payments, waive early withdrawal fees certificates of deposits, and provide emergency loans at a low-interest rates, Stull said.
 
In the immediate term, contacting displaced members who have been cut off from regular Internet access is difficult, Stull said. The local post office has set up postal service for displaced residents in a nearby town and the credit union has sent letters to members offering assistance.
 
"As far as those who may have lost their homes, we'll work with them on any insurance needs or anything else we can do to streamline that process to either to get them back into housing or settle the issues they have with any damage or destruction they suffered," Stull said.

NEW: CUs Should Take Action To De-risk Social Media, Expert Tells ACUC

 Permanent link
NEW YORK (7/3/13 UPDATED: 12:30 p.m. ET)--Credit unions should implement policies and procedures to protect themselves against possible liability related to their use and their employees' use of social media, said attorney Kevin Funnell of Bieging Shapiro & Barber LLP,  at a Discovery Breakout Session  during the 2013 America's Credit Union Conference today.
 
The Credit Union National Association's ACUC ends today in New York City. The Discovery session was sponsored by CUNA Mutual Group.
 
A recent survey indicated that 62% of U.S financial institutions were not using social media or had no immediate plans to use it because they were worried about compliance, Funnell said.  "Most Americans are involved in social media," Funnell said. "There are 157 million Facebook users already, and 47% of adults use social media."
 
Also, new media present risks that traditional media don't--primarily a lack of control over content and a heightened sense of risk, Funnell added. "Social media is relatively new, and there are some well-settled legal rules, but not for financial institutions," he explained. "It's an open forum and there is a world full of possible plaintiffs and the fear of the unknown."
 
Some legal risks when a financial institution markets to a member/customer through social media  include: 
  • Deceptive advertising;
  • Intellectual property infringement/plagiarism;
  • Defamation/trade libel;
  • Disclosure of trade secrets or private information; and
  • Is it a conversation or advertising?
Legal risks when an employee uses a financial institution's social media include:
  • Leaking confidential information;
  • Committing defamation;
  • Admissions against the financial institution's interest;
  • Binding the financial institution to a promise;
  • Legal and regulatory violations;
  • Inability to regulate communication; and
  • Reputational risk.
Credit unions and financial institutions need to have clear internal written policies regarding copyright infringement, defamation, trade libel, use of non-public personal information and dishonesty (deceptive trade practices). "The key is to enforce policies consistently" to avoid any legal problems regarding unfairness of their application, Funnell said.

He concluded with social media policy takeaways for financial institutions. They are:
  • Strike a balance between the specific and the general.
  • Be aware that National Labor Relations Board rules apply--even without a labor union.
  • Understand that informed managers are the key.
  • Realize the NLRB has been making aggressive interpretations (in favor of employees).
  • Review Individual policies and procedures.
If you missed coverage of the ACUC, visit News Now and Credit Union Magazine. Follow today's coverage also on Twitter and LinkedIn by using the links below.

ACUC: Use Social Media To Reach Goals, Says CUNA Chair Wesenberg

 Permanent link

NEW YORK (7/3/13)--Social media can be the catalyst in activating and rallying millions of Americans to help credit unions achieve their goals, Pat Wesenberg, board chair for the Credit  Union National Association and president/CEO of Central City CU in  Marshfield, Wis., told attendees at the 2013 America's Credit Union Conference (ACUC) this morning.
 
CUNA's ACUC in New York City ends today.
 

Click for slide show Social media can be the catalyst in activating and rallying millions of Americans to help credit unions achieve their goals, Credit Union National Association Board Chair Pat Wesenberg tells her audience Tuesday at the Credit Union National Association's America's Credit Union Conference (ACUC). "With our emphasis on people power--which is growing every day, as our recent membership growth shows--the use of social media is right in our wheelhouse." (CUNA Photo)

"Frankly, with our emphasis on people power--which is growing every day, as our recent membership growth shows--the use of social media is right in our wheelhouse," Wesenberg said.
 
Kristen Christian's Bank Transfer Day efforts, spawned through social media, helped add more than two million members since mid-year 2011 through the end of last year, she added.
 
Facebook still remains the social media behemoth--with more than 1.1 billion users worldwide, Wesenberg explained. Nearly 50% of Facebook users 18-to-34 years-old check their Facebook page when they wake up in the morning. And 28% of these young Facebook users check their Facebook page before they even get out of bed, she added.
 
"The point, I think, is clear: Social media is engrained around the world and here at home as the communications medium of choice for millions and millions," said Wesenberg.
 
Social media can perform a strong role in CUNA's Unite for Good program and Don't Tax My Credit Union Initiative, Wesenberg noted.
 
Twitter, the messaging service with its limit of 140 characters per message or "tweet," has emerged as a social media communications powerhouse, Wesenberg said. Today, Twitter counts more than 135,000 new users signing up every day. And the total number of active, registered Twitter users of more than 554 million average 58 million tweets every day.
 
"We also know, the vast majority of our members--especially our most loyal members, more than 40 million who consider a credit union their 'primary financial institution'--will stand with us," Wesenberg said. "All we need to do is activate them. Because, if we use social media the right way today, it can become for us the most effective way for rallying our members.
 
"We want more people--50 million or more--to know the power of belonging to a credit union, by embracing their credit union as the primary financial institution," she added. "That's one of the key goals of our shared strategic vision: 'Americans choose credit unions as their best financial partner.' We're working toward that throughout the Unite for Good  program."
 
Be sure to visit News Now and Credit Union Magazine frequently this week to keep up with all the ACUC action in New York City. You can also follow ACUC on Twitter and LinkedIn by using the links below.

Global Women's Network Scholarship Winners Announced

 Permanent link
MADISON, Wis. (7/3/13)--
Click to view larger image Seventy women from around the globe met at last year's Global Women's Leadership Forum in Gdansk, Poland. Nearly 100 women, including seven scholarship winners, will attend this year's event in Ottawa, Canada. (Photos provided by the World Council of Credit Unions)
Seven women from Canada, Kenya, Macedonia, Malawi and Thailand will join nearly 100 women from 11 countries for the fifth annual Global Women's Leadership Forum in Ottawa, Canada, thanks to scholarships from two credit unions and a service provider.
 
The scholarships are from Lake Trust CU,  Brighton, Mich.; Numerica CU, Spokane Valley, Wash.; and The Members Group (TMG) in Iowa.
 
The annual forum will be held in conjunction with World Council of Credit Unions' World Credit Union Conference at the Ottawa Convention Center July 14-17.
 
Recipients of the 2013 Global Women's Leadership Network scholarship recipients are:
  • Lisa Marie Bonin, corporate procurement specialist, Servus CU, Canada;
  • Kruewan Chonlanai, manager, Central Finance Facility Department, Credit Union League of Thailand Ltd.;
  • Barbara Gascoigne, general manager, Jamaica Teachers' Association Cooperative Credit Union Ltd.;
  • Jelangat Irene, SACCO operations manager, Belgut Rural Women SACCO, Kenya;
  • Triza Tsiga Magreta, general manager, Mudi SACCO, Malawi;
  • Cheryl Rettschlag, manager, Banking Support Services, Servus CU, Canada; and
  • Eleonora Zgonjanin Petrovikj, CEO, FULM Savings House, Macedonia.
They will receive varying levels of support to participate in the forum as well as a one-year network membership. TMG also sponsored an additional scholarship for Elenita San Rogue, CEO, Association of Asian Confederation of Credit Unions.

In honor of former Entrust Financial CU CEO Susan Adams, who died April 8 after a battle with cancer, Phoenix-based Arizona State CU, established the Susan Adams Scholarship Fund to support women from developing countries through their participation in the Global Women's Leadership Network. The scholarship will offset membership dues and costs associated with the network's annual forum for the next three years, said World Council. Entrust is based in Richmond, Va.

"Susan supported initiatives that were all about making life better for those in need," said David Doss, Arizona State CU president/CEO, who served with Adams on the PSCU board of directors. "As a woman in the industry, she cared about the opportunity that she could provide as a mentor and leader to others."  He noted that Adams and her husband, who retired last year, served the credit union industry for more than 30 years.

Attendees of the 2013 Global Women's Leadership Forum will hear from Sheryl WuDunn, the first Asian-American Pulitzer Prize winner and co-author of New York Times bestseller Half the Sky: Turning Oppression into Opportunity for Women Worldwide. The book inspired a PBS television series and international women's rights movement, said World Council. She will present research from her book and participate in a panel discussion about economic empowerment.

ACUC Debate: Indirect Lending--Yea Or Nay?

 Permanent link
NEW YORK  (7/3/13)--Do credit unions do a disservice to members via indirect lending? Or is this practice a powerful tool that allows members to obtain loans when and where they want?
 
That was the "great debate" Monday afternoon at the America's Credit Union Conference between two credit union lenders: Dawn Wade-Brummett, vice president of retail lending and operations for ORNL FCU, Oakridge, Tenn., and Jim Holt, CEO of MidAmerican CU, Wichita, Kan.
 
David Polet, CUNA Mutual Group's director, voice of customer, moderated the discussion at the conference presented by the Credit Union National Association.  He polled the audience on its views of indirect lending: 58% of those polled believe it's a member-focused service, while roughly 30% disagreed somewhat with that statement.
 
"We must get past the stereotype of the shady dealer," said Wade-Brummett, an indirect lending proponent. She says reputable dealers often get lumped in with those that are irresponsible--similar to how credit unions sometimes are unfairly equated with banks.
 
"Indirect lending is about empowering members to get loans when and where they need them," Wade-Brummett said. "Credit unions should do due diligence with dealers like they do with all vendors--and they should never give control of underwriting."
 
Holt, meanwhile, applauded the 30% of session attendees who "had not gone over to the dark side" by working with auto dealers. "It's not good to send members into a high-pressure situation where they will be sold high-priced products.
 
"And do we want the people the dealers send us?" he continued. "Less than 20% of these people even qualify for other services."
 
Wade-Brummett offered a firm "yes" to that question. "We want these members, and every credit union should. These people live in your community. They may not fit your model, but credit unions need to extend services to those who need them. Let's introduce ourselves to them."
 
That's fine, Holt said, "but I don't want the first contact a member has with us to be a sales guy at a dealership. I want that to be with my employees, who've been properly trained and coached. We have trained loan officers who can fit them into the right deal--and maybe change their mind from buying a Cadillac to a Taurus."
 
The conference, presented by the Credit Union National Association, ends today. Be sure to visit News Now and Credit Union Magazine to keep up with all the ACUC action in New York City. You can also follow ACUC on Twitter and LinkedIn by using the links below.

ACUC: Heward Challenges CUs To Open Doors To Creativity

 Permanent link
NEW YORK (7/3/13)--Be more creative. Lyn Heward issued this challenge to credit unions during Tuesday's general session at the America's Credit Union Conference in New York City.
 
Everyone has a wellspring of creativity, said Lyn Heward, director of creation for the Montreal Cirque du Soleil and author of "The Spark: Igniting the Creative Fire that Lives Within Us All," during Tuesday morning's general session at the Credit Union National Association's America's Credit Union Conference in New York City. "We just need to tap into and exercise it," she told attendees. (CUNA Photo)
The director of creation for the Montreal Cirque du Soleil and author of "The Spark: Igniting the Creative Fire that Lives Within Us All" says everyone has a wellspring of creativity. "We just need to tap into and exercise it," she told attendees.
 
The conference, presented by the Credit Union National Association, ends today.
 
Heward said credit union leaders can tap into their organizations' creativity by opening these "creative doors":
  • Develop intuitive instincts by finely honing your senses. Move beyond mechanics and analytics and into the moment, she advised. Capture new ideas and experiences as they occur.
  • Partake in "treasure hunting" and "creative transference"--a.k.a. training. Cirque is a treasure hunter, Heward said, "seeking out the most precious of pearls" to work for the organization. The company has created a database of potential employees and holds rigorous tryouts that push people to their limits. "The qualities we seek are courage, the willingness to take risks and to manage their own growth, generosity, and the ability to learn quickly," Heward said. "We peel back the skin to get to the sweet core."
  • Provide a nurturing environment and collaborate. This promotes personal growth and fosters trust. Cirque subscribes to the idea of "collective creativity," whereby everyone is responsible for contributing to the creative process and being generous. "We instill humility," Heward said. "It's not my show, it's our show. Sometimes you have only half of the pieces to the creative puzzle--rarely the whole puzzle. That's why collaborative creativity is so important."
  • Embrace budgetary and other constraints. They force you to be more creative.
  • Take risks. "Forge ahead, make mistakes, and learn from them," Heward advised. "At Cirque we call this 'research and development.' Complacency is the biggest risk you face."
  • Keep things fresh. "Once the baby is born," Heward said, "how can we help it grow?"
The best way to do so is to lead by example. "A hard working boss is top motivator for employees. We need shared creative ownership."
 
Be sure to visit News Now and Credit Union Magazine frequently to keep up with all the ACUC action in New York City. You can also follow ACUC on Twitter and LinkedIn by using the links below.

ACUC: CUs Can Win Battle For Members' Wallets

 Permanent link
NEW YORK (7/3/13)--While the competition for consumers' wallets is more intense than ever, credit unions can leverage their knowledge of members to outflank their bigger rivals, a CUNA Mutual Group executive told attendees during an America's Credit Union Conference session Tuesday.
 
Click to view larger image Credit unions can use readily available member data to gain an edge on their competitors, John Lass, CUNA Mutual Group senior vice president of strategy and business development, said during the America's Credit Union Conference Tuesday. (Photo provided by CUNA Mutual Group)
The conference, presented by the Credit Union National Association, ends today.
 
"The battle for the American consumer is crowded with competitors--card companies, telecoms, retailers, financial institutions and platform players, to name a few," said John Lass, CUNA Mutual Group senior vice president of strategy and business development. "Technology and the ease with which new players enter the game of winning consumers' business will require credit unions to respond, or be left in the wake," Lass told attendees Tuesday.
 
Financial institutions and retailers have their cross-hairs on members' savings, lending, investments and insurance business because new technology has changed the delivery of financial services to consumers, Lass said.
 
The common battle cry in the quest for those businesses--and payment systems--is customer centricity, and key to that is what's referred to as "big data," he said. Financial institutions and retailers, including credit unions, all have knowledge about their consumers, be it attitudes and behaviors, to determine where they shop, call or search.
 
"Data have become a real asset," Lass said. "Leveraging data is the key to knowing your members' needs and having the ability to deliver the right products and services to the right person at the right time." Data come in many varieties: Account balances, browsing data, social media, email and transactions, to name a few. "Harnessing that data is a key to customer centricity," Lass added.
 
Lass cited actions credit unions can take to win the battle for their members' wallets:
  • Implement a data strategy--Credit unions may not realize it but they have a lot of information on their members, and now is the time to use it in a member-friendly way that keeps their best interests in mind.
  • Segment the member population--Determine which segments resonate with the credit union's value proposition, and segment members based on needs, attitudes and behaviors.
  • Predict member needs--Once a credit union obtains data, it must use the information intelligently. For instance, a new homeowner needs a lawnmower; a new parent needs life insurance.
  • Adhere to a sustainable financial model--Understand the lifetime value of members. They are not only profitable, they will deliver value.
  • Deliver service excellence--Credit unions' staple differentiator is great service. Stay the course on that, but be ready to adapt to changing needs.
  • Enliven member democratic control--Shine a brighter light on their cooperative structural difference. Remind members they are the owners and their credit union doesn't have shareholder issues like most competitors.
  • Don't forget about product and price--Offer relevant products that are comparatively affordable. Most credit unions don't have scale to be a product leader but through their cooperative structure they should work together to be competitive on products and pricing.
Convergence around savings, lending, investments and insurance has intensified as new technology has changed the delivery of financial services to the consumer. The battle is most intense in the area of payment systems. Lass identified key competitors and their new marketing strategies. The cooperative member centricity value proposition will be vital to survive and thrive in the midst of this dynamic competition, he added.
 
Be sure to visit News Now and Credit Union Magazine frequently this week to keep up with all the ACUC action in New York City. You can also follow ACUC on Twitter and LinkedIn by using the links below.
 

ACUC: Brace Yourself For CFPB Lending Changes

 Permanent link
NEW YORK (7/3/13)--Credit unions must act now to prepare for rapidly approaching compliance dates mandated by the Consumer Financial Protection Bureau, CUNA Mutual Group's Regulatory Compliance Manager Lauren Capitini told an America's Credit Union Conference (ACUC) breakout session audience Tuesday.
 
Click to view larger image The Consumer Financial Protection Bureau is moving ahead with new rules that have an enormous impact on credit unions' day-to-day activities, CUNA Mutual Group's Regulatory Compliance Manager Lauren Capitini told an America's Credit Union Conference (ACUC) breakout session audience Tuesday. (Photo provided by CUNA Mutual Group)
The conference, presented by the Credit Union National Association, ends today.
 
Capitini explained how the CFPB is moving ahead with new rules that have an enormous impact on credit unions' day-to-day activities.
 
"In the long run, you will be better served investing time, money and energy into compliance now," said Capitini. "Understand how your credit union needs to adapt to meet the CFPB's new rules, and then develop a strategic plan to implement these changes, which will include changes to the way you do business, your documents, and policies and procedures."
 
New remittance transfer rules have a mandatory compliance date of Oct. 28, and five of the CFPB's seven new mortgage compliance rules have January effective dates:
  • Ability-to-Repay, effective Jan. 10;
  • High-Cost Loans & Homeownership Counseling, effective Jan. 10;
  • Mortgage Loan Originator Compensation, effective Jan. 10;
  • Mortgage Servicing; effective Jan. 10; and
  • Reg B Appraisals and Higher-Priced Mortgage Loan Appraisals, effective Jan. 18.
"Stay focused, take time to understand the changes, and make adjustments where necessary," Capitini said. "Doing these things, combined with a positive outlook and understanding what you can control, will do more for your credit union than focusing on the pains of change."
 
Capitini wrapped up the session by giving attendees a glimpse of what's on her radar for regulatory compliance, including payday lending, overdraft protection, and the changes to Reg CC.
 
"Keep in mind, the CFPB is not done yet," Capitini said. "Looking at what the CFPB plans to accomplish in the next couple of years is daunting, but you have the tools to succeed as long as you start adapting now."
 
Be sure to visit News Now and Credit Union Magazine frequently this week to keep up with all the ACUC action in New York City. You can also follow ACUC on Twitter and LinkedIn by using the links below.

CUNA Closed On Holiday, No News Now On Thursday

 Permanent link
WASHINGTON and MADISON, Wis. (7/3/13)--The Washington, D.C., and Madison, Wis., offices of the Credit Union National Association will be closed Thursday in observance of Independence Day.
 
News Now will not publish an issue Thursday but will resume regular publication on Friday.

ACUC: Polet Tells How To Turn Insights Into Biz Success

 Permanent link
NEW YORK (7/3/13)--Credit union marketing decisions are often based on assumptions rather than facts, David Polet, director of CUNA Mutual Group's Voice of Customer division, told attendees of America's Credit Union Conference (ACUC) Tuesday.
 
Click to view larger image Credit union marketers must challenge their assumptions when making decisions, David Polet, director of CUNA Mutual Group's Voice of Customer division, told America's Credit Union Conference Tuesday. (Photo provided by CUNA Mutual Group)
"According to our research, 88% of credit union members have relationships with other financial institutions and that means, for at least part of how members think about finances, credit unions are not the preferred option," Polet said in his Discovery breakout session, "Turning Today's Consumer Insights into Tomorrow's Business Success." Polet was citing CUNA Mutual Group's 2011 Consumer Financial Needs Research.
 
The conference, presented by the Credit Union National Association, ends today.
 
Many credit union marketers assume Gen Y members are not smart with their money and that they don't think about retirement savings, Polet said. A recent CUNA Mutual Group survey shown to the ACUC audience contradicted those assumptions. It found:
  • 60% of Gen Y members are saving for college for their children; and
  • 71% of Gen Y members began planning for retirement before they were 26 years old.
"It's time to challenge all of those assumptions (about) members because we can't keep making marketing decisions based on prejudices," said Polet. "There are a lot of pressures on credit unions to gain market share, and research shows if credit unions aren't out in front of members to showcase what you have to offer, they will look elsewhere."
 
The shift in consumer channel preferences for finding financial products has gone from call center-focused to almost exclusively online. Polet referenced new research from the 2013 Insurance Barometer Study:
  • 86% of consumers use the internet as part of their life insurance purchases; and
  • 33% of consumers work through a call center/local agent for insurance purchases.
"When planning strategies, credit union marketers need to ask themselves, 'Why would my members or potential members get a loan from us? What do I have to offer that's meaningful to them?'" Polet said.
 
Be sure to visit News Now and Credit Union Magazine frequently this week to keep up with all the ACUC action in New York City. You can also follow ACUC on Twitter and LinkedIn by using the links below.

ACUC: CU Branches Evolving To Meet Members' Needs

 Permanent link
NEW YORK (7/3/13)--U.S. credit unions are changing the design and function of credit union branches to meet the evolving needs of members, said a panel discussion at a CUNA Mutual Group Discovery Breakout Session, "Branches of the 'Future' are Here Today," Tuesday at the 2013 America's Credit Union Conference.
 
The ACUC, presented by the Credit Union National Association in New York City, runs through today.
 
Raja Bose, senior director, consumer transaction services at Diebold and the moderator for the panel, said there are five factors driving change in the credit union marketplace.
 
They are:
  • Exponential change in technology, with consumers rapidly adopting new technology and expecting more from credit unions;
  • The rise of consumer power, with empowered consumers driven by social media;
  • Transformational technology;
  • Changing demographics; and
  • The new normal--lower profits for financial institutions because of the rise of retail financial services.
"Consumers want to feel like they are in control, and they don't feel they are getting this today," Bose said. Strategies for credit unions include driving efficiencies, mitigating risks, enhancing member experience and increasing sales.
 
Four credit unions talked about some changes they've made to branches to elevate staff efficiency, reduce costs and improve member service:

They are:
 
  • Coastal CU in Raleigh, N.C., which has implemented personal teller machines (PTMs), a video-based technology that does everything a traditional teller would do--dispense cash, create images of checks and answer questions, said Willard Ross, Coastal senior vice president and chief retail officer. This is not self-service, but rather personalized service provided by staff at an offsite call center. The benefits include low-cost extended hours of operation, consistently faster and better service (average wait time 20 to 30 seconds), and lower teller turnover in a safer, more focused, better managed work environment.
  • Generations FCU in San Antonio, Texas, which has moved to in-store branches that helped it transition its staffing model to be more nimble and cross-functional because fewer employees no longer are stuck in separated employment silos, said Bonnie Garcia, Generations assistant vice president of business development. "Tellers can now do everything from A to Z," she said, because there are fewer employees and a smaller footprint at the in-store branches.
  • Five County CU in Bath, Maine, which has eight branches--five with in-store locations, one traditional branch and  two full-service "video branches"  that feature PTMs and "smart offices," said  Michael Foley, Five County vice president of sales and business development. The smart offices have the equipment and capability (such as sharing computer screens) to help members go online and also to help them set up to have online bill pay. Five County also has a full-service call center staffed with 18 employees.
  • Pennsylvania State Employees CU (PSECU) in Harrisburg, Pa., which implemented e-centers on 12 different college campuses in the state that serve 400,000 students, said Greg Smith, PSECU president/CEO. Each e-center is 200-300 square feet, staffed with one manager and student intern. The focus on college students is to sustain lending operations and take advantage of the marketing "sweet spot" they are in because the impact of major life events ahead of them equates to credit needs, Smith said.
Visit News Now and Credit Union Magazine to keep up with all the ACUC action in New York City. You can also follow ACUC on Twitter and LinkedIn by using the links below.