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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.
Reg E gift card rule proposed by Fed. Would implement Credit CARD Act requirements that are effective Aug. 22. http://tinyurl.com/yh9eats
AOL's Walletpop advises "fee-weary consumers" to find a credit union, points them to CUNA's online CU locator: http://tinyurl.com/ydsjlvr
NCUA approved 2010 OTR of 57.2 percent
CU offers half-million dollars in holiday quick loans
DETROIT (11/12/07)--Detroit Municipal Credit Union (DMCU) has set aside $500,000 for special Holiday Quick Loans to help members struggling with the tough financial situation in Michigan.
Unlike other loans, no credit check is necessary to apply. Members that qualify will receive loans between $300 and $500.
Originally, the credit union was going to cap the number of applications at 1,000, but more were actually accepted.
"With the holidays coming up, we wanted to do something to help our members through some difficult times," said Kathie Trembath, DMCU CEO. "Some of the people applying can't get credit elsewhere, or are over-extended."
Loans are issued based on work seniority and good standing with the credit union. Each loan recipient also signs up for payroll deduction.
If the Holiday Quick Loan program is successful, DMCU may try another round of loans in the spring.
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