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Most CUs will provide wage increases for at least some of their employees, according to CUNA's just-released Small CU Staff Salary Survey.
St. L Post Dispatch on GAO report:Consumers may not benefit from altering Interchange system;would cut card competition. http://ow.ly/ETyX
CUNA's Hampel: Consumer holiday spending will be up slightly from last year. See Tues NN.
NCCUL and WOCCU met with Romanian CUs this week. The CUs are experiencing growth and want to increase their public relations efforts.
Kent Buckham has been named by NCUA as director of the newly created Office of Consumer Protection. The 7-person dept. launches in Jan.
The old bogus-CU scam strikes again
HARRISBURG, Pa. (11/26/03)--Another fake credit union has surfaced in Pennsylvania--this time using the name of a legitimate, Michigan-based credit union.
The Pennsylvania CU Association's Compliance and Information Services Department was recently notified that a fraudulent advertisement for "Credit Union One" was running in the Bedford Gazette.
Callers to the hotline are told that the credit union is federally chartered by the NCUA and is based in Ferndale, Mich. In reality, the backing company for this scam is in Toronto, Canada.
The real Credit Union One is based in Ferndale, Mich., and the credit union's compliance officer Mark Sebastian is aware of the problem.
The fake "Credit Union One" ads have been placed in newspapers from New Jersey to Hawaii.
The false company is allegedly collecting personal information from consumers--a hint of potential identity theft--and is collecting fees up-front from consumers.
The ads also are being paid for by fake credit cards, meaning not only consumers but also the newspapers are being taken for a ride.
Consumers can easily determine whether a financial institution is legitimate by calling the state credit union league or the state department of financial institutions.
If you have any information regarding suspicious ads or problems with such companies, call the NCUA Fraud Hotline at 703-518-6550 or 800-827-9650; National Association of State CU Supervisors (NASCUS) at 703-528-8351; or state financial regulators.
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