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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.
Wall Street Journal, other national media tout CUs
NEW YORK and WASHINGTON (4/29/08)--The Wall Street Journal, MarketWatch and Dow Jones News Service are among the national media piling on to recommend consumers check credit unions for better deals.
Credit Union National Association (CUNA) chief economist Bill Hampel and California Credit Union League economist Daniel Penrod were quoted extensively in an article carried by the Journal and MarketWatch on Sunday and by Dow Jones on Monday.
"When it comes to low fees and generous rates, credit unions match banks head-to-head," it said, noting that credit unions' products " should be among the options you consider when searching for savings and checking accounts, certificates of deposit, small-business, mortgage and auto loans, and credit cards--particularly now, given that credit unions in large part sidestepped the subprime crisis."
Hampel explained that credit unions' not-for-profit cooperative status means they don't charge as much. "We don't have to charge as much, we're not going for profit, and we don't have to pay taxes on the net income we do make," he said.
Both Hampel and Penrod pointed out credit unions have weathered the subprime crisis better than some larger banks because credit unions didn't loosen their lending standards to boost profits.
"Credit unions essentially make no subprime loans," said Hampel. "They made a few loans to borrowers who had subprime credit histories, but these were not under a subprime loan program."
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