CUNA News Now: Chairman’s letter: Banks costing taxpayers

News Now LiveWire

Most CUs will provide wage increases for at least some of their employees, according to CUNA's just-released Small CU Staff Salary Survey. 12 hours ago

St. L Post Dispatch on GAO report:Consumers may not benefit from altering Interchange system;would cut card competition. http://ow.ly/ETyX 13 hours ago

CUNA's Hampel: Consumer holiday spending will be up slightly from last year. See Tues NN. 17 hours ago

NCCUL and WOCCU met with Romanian CUs this week. The CUs are experiencing growth and want to increase their public relations efforts. 4 days ago

Kent Buckham has been named by NCUA as director of the newly created Office of Consumer Protection. The 7-person dept. launches in Jan. 4 days ago

Sign up; more tweets...

WARMINSTER, Pa. (1/6/09)--Banks are forcing credit unions to spend millions of dollars that could be used to better serve members, according to the chairman of a Pennsylvania credit union.

Joe Yerkes, chairman of Freedom CU in Warminster, recently wrote a letter to the editor of The Intelligencer (Dec. 29) saying banks are misusing government bailout funds and are costing credit unions millions of dollars in litigation.

Bankers' lawsuits against credit unions take away a consumer's right to choose a credit union for financial services, he said. The money credit unions spend defending themselves could be used to offer better rates on deposits and loans, he added.

And while banks accept bailout money, credit unions have never received any type of taxpayer support, Yerkes said.



SEARCH Headlines Washington CU System Market Products & Services Consumer Print Today’s News Photo Gallery Videos Monthly Top 10 Archive Headlines via Email Enter your email address: text or HTML RSS Feed What is RSS? Contact News Now
	News Now LiveWire Most CUs will provide wage increases for at least some of their employees, according to CUNA's just-released Small CU Staff Salary Survey. 12 hours ago St. L Post Dispatch on GAO report:Consumers may not benefit from altering Interchange system;would cut card competition. http://ow.ly/ETyX 13 hours ago CUNA's Hampel: Consumer holiday spending will be up slightly from last year. See Tues NN. 17 hours ago NCCUL and WOCCU met with Romanian CUs this week. The CUs are experiencing growth and want to increase their public relations efforts. 4 days ago Kent Buckham has been named by NCUA as director of the newly created Office of Consumer Protection. The 7-person dept. launches in Jan. 4 days ago Sign up; more tweets... Chairman's letter: Banks costing taxpayers WARMINSTER, Pa. (1/6/09)--Banks are forcing credit unions to spend millions of dollars that could be used to better serve members, according to the chairman of a Pennsylvania credit union. Joe Yerkes, chairman of Freedom CU in Warminster, recently wrote a letter to the editor of The Intelligencer (Dec. 29) saying banks are misusing government bailout funds and are costing credit unions millions of dollars in litigation. Bankers' lawsuits against credit unions take away a consumer's right to choose a credit union for financial services, he said. The money credit unions spend defending themselves could be used to offer better rates on deposits and loans, he added. And while banks accept bailout money, credit unions have never received any type of taxpayer support, Yerkes said. Freedom CU has more than $350 million in assets. Resource Links Credit Unions: Safe and Sound drive-up envelope Credit Unions: Safe and Sound statement stuffer There's Nothing Like a Credit Union statement stuffer More CU/System
	Copyright © 2009 - Credit Union National Association, Inc.

More CU/System