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In the media: Mobile payments, CU membership, stress test rule
MADISON, Wis. (1/14/14)--USA Today, U.S. News & World Report and The Hill were among the national media outlets that featured information and insight from the Credit Union National Association in the past several weeks.
 
Meanwhile, other publications noted how credit unions are helping their members navigate the Target breach, increasing in popularity among consumers, and reporting improved financial results, according to CUNA's weekly "In The Media Report" (Jan. 10). The report covers mentions of CUNA and credit unions in the media and is available to CUNA's member credit unions.
 
USA Today (Jan. 8) featured content from CUNA's mobile payments survey. Titled "Youngest adults are not the top users of mobile payments," the graphic broke down the survey by age groups.
 
A Jan. 7.U.S. News & World Report article, "The Benefits of Joining a Credit Union," highlighted benefits credit union membership offers American consumers. The article also provided answers to common questions about credit unions, and described how credit unions differ from banks in structure and purpose. 
 
An article in The Hill (Dec. 31), outlined CUNA's position on the new stress test rule. CUNA believes that credit unions already have all the incentive they need to make sure the financial institutions have sound plans. In a comment letter submitted to the National Credit Union Administration, CUNA wrote that regulators should issue advice in the form of guidance, not mandatory regulations.
 
On Dec. 27, Missouri ABC 3 KTVO News reported state-chartered credit unions are becoming more popular with consumers, especially in larger cities. As of June, state-chartered credit unions had $11.2 billion in assets, $9.7 billion in deposits and the loan volume reached $6.5 billion.
 
In a Jan. 4, Sacramento Bee op-ed piece, "Time for tougher measures to combat another credit card breach," Diana Dykstra, president/CEO of the California and Nevada Credit Union Leagues, said the massive, pre-holiday card data security breach at Target serves to illustrate the serious need for tougher card- and cyber-security measures to protect consumers. Dykstra called for toughening the "dangerously weak credit and debit card security measures employed by U.S. retailers."
 
A Mother Jones (Jan. 9) article described how the $638 million-asset Silver State Schools CU of Las Vegas offers loans specifically for K-12 teachers who are struggling to scrape together classroom supplies on small budgets.
 
A Jan. 5 MiBiz.com article highlighted Michigan credit union small business lending. Member business lending (MBL) at Michigan credit unions surged 18% through the third quarter of 2013, and state credit unions are well-positioned for future MBL increases, Dave Adams, Michigan Credit Union League president/CEO, told MiBiz.com.
 
An Arizona Daily Star article (Dec. 22) noted improving third-quarter financial returns for state credit unions. Bauer Financial said 84.4% of the state's credit unions were recommended in the third quarter of 2013, improving from 76% recommended in the third quarter of 2012.
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