Credit Unions in the News

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Fixing your finances: joining a credit union11/16/2017Belco Community Credit Union Vice President of Marketing Adam Stewart explains the benefits to joining a credit union. Stewart says the main difference between credit unions and other financial institutions is the credit union not-for-profit structure. Earnings are returned back to members in the form of lower rates and fees, not shareholders. 

Credit unions support bill to ease regulation, protect consumers11/15/2017The Senate Banking Committee unveiled its bipartisan financial reform bill aimed to ease regulations imposed on credit unions and small banks. "This is a major victory for consumers not only across the United States, but especially in rural areas such as the Dakotas," added Town & Country Credit Union President Jeremiah Kossen. If passed, this reform would make lending in rural areas easier, helping small businesses and middle-class families. 

Senators support rollback of credit union oversight11/13/2017The Senate Banking Committee's bipartisan financial reform bill includes regulatory relief specifically for credit unions and small banks. If passed, it would cut through some of the red tape and ease lending. It would also "significantly improve our financial regulatory framework and foster economic growth by right-sizing regulation," said Sen. Crapo (R-ID). This is also highlighted in Housing Wire and POLITICO.   

Birchview Elementary opens Hematite Credit Union11/08/2017Honor Credit Union opens its first student credit union, Hematite Credit Union, at a local elementary school. "Each account that's open at the student credit union is an actual account at Honor Credit Union, so parents are able to show their kids how much money they have," says Honor Credit Union Negaunee Branch Manager Jamie Gollakner. 

Delta Credit Union announces more than $100,000 support for children and families11/08/2017Delta Community Credit Union will invest $105K in twenty-two local organizations to support children and families in Atlanta, GA. “We're proud to support these non-profit organizations which share our goal of helping families manage their household finances and improving the physical and financial well-being of young people,” said Delta Community CEO Hank Halter. 

REACH interviews: CUNA’s Jim Nussle talks tax bill, CFPB arbitration, and 2018 GAC update11/07/2017CUNA President/CEO Jim Nussle discussed tax reform, CFPB's arbitration rule, and 2018 CUNA GAC during CA/NV Credit Union League's annual REACH conference. As a former OMB Director and House Budget chairman, Nussle is very familiar with the process and said, “anytime the tax bill is open, you're on the menu - watch out.” Nussle also pointed out that Senators Susan Collins (R-ME) and Lisa Murkowski's (R-AK) votes to nullify the CFPB's arbitration rule were a direct result of credit union fierce advocacy. Finally, Nussle encourages everyone to attend CUNA GAC February 25 - March 1, 2018. 

Ways to avoid the post-holiday financial blues11/01/2017FORUM Credit Union COO Andy Mattingly recommends financially preparing for the holidays. Mattingly advises consumers to track their spending, trim expenses and stick to their budget. “The big thing here is to always remember the thoughtfulness of the gift is more important than the cost of the gift,” said Mattingly. 

You can almost taste the beer at this credit union11/01/2017O Bee Credit Union opened a new branch designed to look and feel like a brewpub in order to better serve Olympia brewery staff. “The credit union wants to embrace its history, but also wants to change the banking experience in an era when more people are doing their banking online,” said O Bee CU Marketing Specialist Martha Guilfoyle.

Centra Credit Union donates $7,500 to 2 programs10/27/2017Centra Credit Union donates funds to two local charities: Foundation For Youth and Big Brothers Big Sisters of Bartholomew County. “There are so many phenomenal organizations in Columbus, and we are proud to support them by giving back this year,” said Centra Credit Union Community Involvement Officer Jenni Carr.

Ensuring financial readiness for all10/25/2017FORUM Credit Union COO Andy Mattingly explains how the 'sandwich generation' can prep their children and parents for future financial problems. When it comes to children, Mattingly advises teach simple basic money concepts, the difference between needs and wants, and give them an allowance. As for the parents, create a solid estate plan, deal with debt, and have an appropriate health insurance plan to ensure coverage. 

In Texas and U.S., women leaders represented in top positions at credit unions10/23/2017Women hold many senior leadership positions at credit unions, especially in Texas. Two of the five largest credit unions in the state have women CEOs - American Airlines Federal Credit Union Angie Owens and TDECU Stephanie Sherrodd. Sherrodd urges women to take risks in business to move up - “that helped me in my career.”  

A social network credit union? Regulator asks, ‘why not?’10/20/2017National Credit Union Administration Chairman J. Mark McWatters believes credit unions should be able to service communities that exist online. “We need to think about how we can create common bonds, or how we can reflect in the Federal Credit Union Act, what people today use as common bonds,” said McWatters.  

Fixing your finances: International Credit Union Day offers the chance to join, learn more10/19/20171ST Ed Credit Union President/CEO Kelly Childress appeared on FOX 43 to discuss what International Credit Union Day means to credit unions. ICU Day is a “special day for credit unions and members to celebrate the credit union difference. Lots of credit unions will have special events planned at their locations and out in the communities they serve,” said Childress.   

Pay it forward: Orangefield students for their part to help in recovery after Harvey10/18/2017DuGood Federal Credit Union surprises students with special recognition after raising money for their school - which was flooded by Hurricane Harvey. Students hosted a Kool-Aid stand in their neighborhood which raised $250 that went towards purchasing school supplies lost in the storm. DuGood FCU rewarded the students with cash as part of their 'Pay It Forward' campaign, which rewards random acts of kindness. 

What’s the difference between bank, credit union?10/18/2017Dave Ramsey, host of the Dave Ramsey radio show, responds to a caller's inquiry by explaining the difference between a credit union and bank. The caller asked what the difference is between a bank and credit union, in which Ramsey answered that recredit unions return earnings to their members. “A bank could do the same thing, if it were willing to make less profit. So, there's no disadvantage. They're just trying to keep stockholders happy and sell stuff to customers,” said Ramsey. 

My voice: celebrate ICU Day in South Dakota10/17/2017Credit Union Association of the Dakotas President/CEO Jeff Olson pens an op-ed inviting everyone to celebrate ICU Day. This year's theme, Dreams Thrive Here, highlights how credit unions help members achieve their financial dreams and support local communities. “According to, credit unions in the Dakotas have contributed cash and other donations valued at more than $2.6 million to hundreds of organizations in their communities over the past 12 months alone,” explained Olson.

Minnesota credit union awards education scholarships to 16 members10/16/2017TopLine Credit Union Foundation rewards members with scholarship money to continue their education. Applicants were asked to submit an essay on how TopLine CU has helped them continue along their financial journey. One of the applicants answered by saying, “banking at TopLine makes me feel safe and secure because I know that they have all aspects of life covered through my financial journey.”

Dakota Credit Unions raise more than $40,600 for Children’s Miracle Network Hospitals10/14/2017The Credit Union Association of the Dakotas and North and South Dakota credit unions raised over $40,6000 for local Children's Miracle Network Hospitals on Miracle Jeans Day held on Sept. 13. North Star Community CU CEO Bob Herrington won a 'throw down challenge' by raising the most money of any credit union in South Dakota. The prize? CUAD President/CEO Jeff Olson agreed to take a 'pie in the face' on Facebook Live.

Arbitration rules should stay unchanged10/13/2017Alaska USA FCU Senior Vice President of Corporate Administration and Alaska Credit Union League Governmental Affairs Dan McCue urges the Senate to leave arbitration rule alone. The Consumer Financial Protection Bureau is trying take away the option to limit class action litigation through arbitration - which will leave a negative impact on credit unions. “A rule banning the ability to use arbitration doesn't make sense for any credit union member across this state,” said McCue. He later continued by saying, “as the original protectors of consumers' finances, credit unions believe this rule has the potential to hurt more Alaskans than it protects.”  

Credit union offers LI students college scholarships10/11/2017Island Federal Credit Union is looking to award $50K to local high school students graduating next year. “We are hoping the scholarships will help make the transition to college a little easier and help students achieve their educational and personal goals,” said Bret Sears, Island's president and CEO.