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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.
Credit Union ONE name used fraudulently
FERNDALE, Mich. (12/22/03)--Once again, a credit union's good name is being used to promote a scam. This time, it's Credit Union ONE, a $735 million asset credit union based in Ferndale, Mich.
The credit union is alerting consumers that its name is being used in newspaper ads across the country promoting debt consolidation services (PR Newswire Dec. 18). The ads, which fraudulently claim the Credit Union ONE has offices in Toronto, have appeared in nearly 50 publications since September.
The ads offer debt consolidation and free financial advice. Consumers are directed to call 866-475-8024 in all of the ads. They then receive paperwork including a loan note and request for more personal information.
The consumers are also asked to send in advance payments via wire transfer.
Other similar scams have occurred in Alaska, California, Colorado, Florida, Georgia, Mississippi, Missouri, Ohio, New York, Pennsylvania, South Carolina, and Washington. Leagues are working with state regulators and NCUA to monitor these.
The credit union is warning newspaper publishers about the fraudulent ads and has notified the Office of Financial and Insurance Services, according to Mark Sebastian, compliance and security officer.
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