Credit Unions in the News

January 2014

Bankers, Take the Time to Educate Your Customers01/16/2014I'm not the only person who no longer trusts banks enough to do business with them. Back in 2011, people came out in the streets during the Occupy Wall Street movement and demanded change from government and banks. They wasted little time waiting for the banks to react and put matters into their own hands by holding "Bank Transfer Day." An estimated 214,000 moved their money from banks to credit unions around that time.

NY Credit-union Leaders Show 'Cautious Optimism' about Economy, Survey Finds01/15/2014The majority of participating New York state credit-union leaders are either somewhat optimistic or very optimistic about the national, state, and regional economies in 2014, according to newly released industry survey results.

Credit Unions Can Help Your Kids Save01/15/2014Because the majority of schools often lack comprehensive financial education resources, it is important to teach your child the significance and benefits of saving money as early as possible - and reward them for doing so, because a little gift here and there never hurt anybody! Many credit unions offer savings accounts for children, and some of them come with a variety of incentives and rewards. More often than not, the idea that a savings account is "good to have" is not a motivating enough reason for kids to put their hard earned cash away in a credit union without receiving any type of benefit for their efforts.

Credit Unions Looking for Musicians to Sound Off01/14/2014For the third straight year, Maine's Credit Unions are giving young musicians a big opportunity with their "Sound Off" competition. "It's one of many platforms that Young and Free Maine has to reach the young adult 18 to 25 year old Gen Y," said Bangor Federal Credit Union Director of Marketing, Michael Sturdee.

Chatzky Headlining SavvyMoney-CU Event at Washington Expo01/09/2014Credit unions have partnered with SavvyMoney to bring consumer financial expert, Jean Chatzky, to the expo, as well as offer free financial checkups for attendees. They will also host a seminar on financial fitness featuring Chatzky at 2 p.m. Jan. 11.Following the presentation, Chatzky will do an autograph signing of her book, Money Rules: The Simple Path to Lifelong Security, at the Dollars & Sense Credit Union Pavilion, booth #2333.

Credit Union Offers Teachers Personal Loans for Classroom Supplies01/09/2014Evidently, the $1.6 billion that K-12 teachers already spend out of pocket on school supplies just isn't cutting it. Thankfully, the Silver State Schools Credit Union of Las Vegas, Nevada, now offers loans specifically for K-12 teachers who are struggling to scrape together the classroom essentials on their hemorrhaging budgets, Sociological Images reported.

Credit Unions Continue To Grow Small Biz Lending01/05/2014Business lending by credit unions surged during most of 2013, a trend that's expected to continue into 2014 and beyond as the economy further improves and more institutions start offering commercial loans.Through the third quarter of 2013, credit union business loans to members grew 18.0 percent statewide from the beginning of the year to $1.57 billion from $1.33 billion for all of last year, according to the most recent data available from the National Credit Union Administration.

Viewpoints: Time for Tougher Measures to Combat Another Credit Card Breach01/04/2014More than 40 million shoppers who used their credit card to make purchases at a Target store between Nov. 27 and Dec. 15 got an unpleasant holiday surprise: Their data is turning up for sale on the digital black market. Californians were particularly hard hit; here in Sacramento, The Golden 1 Credit Union estimates about 10 percent of its members were affected.