Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
League Letter To Editor Touts Soundness of CUs
COLUMBUS, Ohio (7/25/13)--Credit unions in Cleveland and Ohio are safe and sound, Paul Mercer, president/CEO of the Ohio Credit Union League, wrote in a letter to the editor published in Tuesday's edition of The Plain Dealer.
 
"Credit unions in Cleveland and throughout Ohio are in great shape," Mercer wrote. "They are modern, convenient, consumer-focused and community-centric. Take a look; you will like what you see."
 
Mercer was responding to a July 18 article in The Plain Dealer about Cleveland-area financial institution failures.
 
Credit unions in the Cleveland market collectively share a net worth ratio of 11.86%--well above the industry average and nearly double the levels deemed strong by state and federal regulators, Mercer wrote.
 
Mercer described credit unions' not-for-profit, member-owned cooperative structure that returns profits to members.  The core mission of credit unions is serving members, he wrote.
 
"They also provide competition to the for-profit structure, keeping products and services affordable and accessible to all," Mercer added.
RSS print
News Now LiveWire
U.S. #Ebola cases reminder for #creditunions of pandemic prep: Agility #NewsNow http://t.co/SmKxayL7lm
12 minutes ago
.@CUNA VP of Econ MIke Schenk featured in Money magazine http://t.co/SC6Shv0lDH
19 hours ago
#NewsNow: @CFPB develops tools for student loan debt relief. http://t.co/a6pOReC86F
19 hours ago
Stephanie Smith has been named as the new executive director of America's #CreditUnion Museum. (2 of 2)
20 hours ago
America's #CreditUnion Museum executive director Peggy Powell is stepping down after 15 years. (1 of 2)
20 hours ago