Credit Unions in the News

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Fixing your finances: prepare yourself properly for vacation and holiday expenses05/25/2017First Capital FCU Community Engagement Officer Lisa Barshinger stopped by FOX43 Morning News to offer tips to help consumers prepare for summer expenses. 

SDCCU festival of arts in north park05/24/2017SDCCU sponsored the Festival of Arts in North Park to celebrate all types of art forms, including art for kids. All proceeds went to benefit the nonprofit North Park main street. 

Rose Princesses, Unitus Community Credit Union, give back at Doernbecher Children’s Hospital05/22/2017The Rose Princesses carry out their royal duties by visiting Doernbecher Children's Hospital. Unitus Community Credit Union, which sponsors the Rose Princesses program, aims to give young women the opportunity to give back to their local community. During a recent trip to the hospital, the young women saw the impact Credit Unions for Kids has had by raising millions of dollars for Doernbecher patients.

Wisconsin credit unions turn in stellar quarter05/12/2017Wisconsin credit unions report high earnings in first quarter of 2017. “Their success puts them in great position to continue to offer the services and products their members need and want. That adds vitality to an already-strong Wisconsin economy,” said Department of Financial Institutions Secretary Jay Risch. 

Desert Schools Federal Credit Union boosts PCH program05/11/2017Desert Schools Federal Credit Union helps sponsor the '1 Darn Cool School' initiative at Phoenix Children's Hospital. The program allows teachers to come in and provide education to children undergoing long-term care at the facility. “The gift of education and the smiles on children's faces each time we visit PCH remind us that our efforts couldn't possibly go towards anything more rewarding,” said Desert Schools FCU Executive Vice President Ron Amstutz. 

Capital Credit Union leaders spend night on the roof05/11/2017Capital Credit Union hopes to donate $20,000 to a local homeless shelter. The Vice Presidents of Capital Credit Union, Patti Bani and Lisa Huguet, spent the night on the roof in an effort to raise more funds. 

DUSD, Financial Partners Credit Union partner to make financial literacy a community priority05/10/2017Financial Partners Credit Union sponsored a financial literacy program in local schools. “Financial Partners Credit Union believes it is our responsibility to help youth in our own backyard be financially successful. Hopefully, we will set the stage for other schools to follow suit,” said Financial Partners Credit Union President/CEO Nader Moghaddam.

Letter: Repeal repeal financial fee rule05/09/2017Carolinas Credit Union League President/CEO John Radebaugh applauds Rep. Ted Budd (R-NC) for his efforts to immediately repeal the Durbin Amendment. “The Durbin Amendment simply transferred the cost of doing business from retailers to credit unions and other card issuers,” explained Radebaugh. 

Wisconsin credit unions ruffle feathers as they gain ground against banks05/07/2017Wisconsin credit unions are gaining momentum in Wisconsin - the banks notice and are attacking the credit union tax status. Summit Credit Union President/CEO Kim Sponem responded to the bankers attack by saying, “the reason we don't pay income tax is because we don't have income; we have reserves.”

Maine Credit Union League says regulatory burden has cost Maine credit unions $43.4 million05/01/2017Maine Credit Union League President Todd Mason says excessive regulatory burden has cost state credit unions $43.4 million and has led to another $5.8 million in costs. “This cost breaks down to $819,000 per credit union and $75 per credit union member,” said Mason. He urges Rep. Bruce Poliquin (R-ME) to support the Financial CHOICE Act, which would provide common-sense regulatory relief to Maine credit unions.  

Another view – Paul Gentile: NH credit unions need regulatory relief05/01/2017Cooperative Credit Union Association President/CEO Paul Gentile expresses desire to provide more services to members, but first needs additional regulatory relief. “It's time for New Hampshire's credit unions to be recognized for the leaders they are in business lending and for these loans to be properly reclassified as mortgages,” said Gentile. 

CT credit unions putting a fresh face on interactive banking05/01/2017Several Connecticut credit unions set up interactive teller machines, or voice tellers, in main offices and branches. "It saves on the financial cost of a full-size branch. You don't have tellers sitting unoccupied. You can do anything there that you can do in a full-size branch,'' said financial-services contractor Solidus Inc. Marketing Director Ian Hough.  

Ask the expert04/25/2017Heritage FCU President/CEO Ruth Jenkins offers advice on how to become a smart saver on Midday with Mike. Per a new survey, 50% respondents said they save less than 5% of their income a year while 20% save absolutely nothing.  

Credit unions04/23/2017Northwest Credit Union Association President/CEO Troy Stang explains the credit union difference on local radio station. Stang reports half of all consumers in Washington and Oregon are members of a credit union. “The idea of cooperative finance is catching on,” said Stang. 

Fixing your finances: repairing your credit takes a few calculated steps04/20/2017Lanco Federal Credit Union Chief Executive Officer Stacey Hankey offers tips on how consumers can fix their credit score. Hankey advised consumers to first look at their credit score. Once you have your score, start by paying off the loan with the lowest amount and interest rate. This “helps people to feel empowered and see that they can pay off debt,” said Hankey. 

City looks to give community banks, credit unions slice of business04/19/2017The city of Santa Fe wants to practice what they preach - shopping and investing locally. One way they're following through by putting out a request for proposals for banking services. They want to make the switch from a big Wall Street bank to local credit unions and other local institutions. “We have a fiduciary responsibility to make sure that taxpayer dollars are safe and invested back into our community as much as possible,” said Mayor Javier Gonzales. 

Credit unions popular with millennials, says Maine trade association head04/18/2017Maine Credit Union League President/CEO John Murphy advocates credit unions are well received by millennials. "Millennials are responding in very good numbers, not only taking advantage of the technology credit unions have to offer whether mobile or home banking, but they also like to go into branches for specific purposes," said Murphy. 

Loan business keeps First Northern Credit Union humming04/17/2017Loan business and boost in membership keep First Northern Credit Union thriving. “We function as a non-profit financial co-operative, so all of our members as I said are part owners, and they are sharing the revenue the credit union generates through lower interest rates on loans, higher rates paid on a deposit account, and fewer and cheaper service fees," said First Northern Credit Union Business Development Manager David Tognarelli. 

Honolulu StarAdv: credit unions raise $536K for new hospital04/13/2017Hawaii's credit unions surpass fundraising goal to help build new Kapiolani Medical Center for Women and Children. "To put it in perspective, it took the previous 15 years for Hawaii's credit unions to raise $650,000 for Kapiolani Children's Miracle. To raise over a half-million dollars in less than five years shows how committed Hawaii's credit unions are to the children in our community,” said Hawaii Credit Union League Communications Officer Laurie Okawa Moore. 

Here’s why we’ve started crafting legislation to roll back Dodd-Frank04/13/2017Rep. David Kustoff (R-TN) pens an op-ed on how Dodd-Frank has handcuffed small financial institutions including America's credit unions from serving their 110 million members. Due to excessive regulations imposed by the bill, compliance costs have risen which has made the loan process more constrained. “To provide the relief these Americans need, Congress must roll back some of the heavy-handed Dodd-Frank provisions,” advocates Rep. Kustoff.