Credit Unions in the News

March 2014

Credit Union Marketers Notice Coach Miller and Olson’s Chemistry, Honor Hughes03/27/2014Hughes Federal Credit Union was honored for that commercial and for two others highlighting Miller and Olson's yin-and-yang chemistry; for brand awareness of the credit union and its UA Visa debit card through their association with Miller; and for the redesign of its website

How Credit Unions Fixed the One Thing You Hate About Dealerships03/23/2014There's an innovative new relationship in the car dealer industry that's picking up speed, however. More and more dealerships are actually assisting buyers by linking them with credit unions to help them access affordable auto financing terms and other financial benefits beyond the dealership lot.

Credit Union’s Video Teller Changes Face of Banking03/23/2014The future of banking arrived in Leland last week with the opening of Corning Credit Union's new branch featuring ATMs equipped with interactive video. Using a video monitor, these video teller machines allow customers to talk to a remote teller about any transaction. The remote tellers work from the company's headquarters in Corning, N.Y.

Shop Smart: Credit Unions Making Gains in Services03/22/2014Why? They offer all of the services of a bank (and federal deposit insurance) but tend to charge considerably less for checking accounts and loans. And they generally pay higher interest rates on savings. Why not? The customer-satisfaction rating for credit unions dropped 5 points last year, to 82, according to the American Customer Satisfaction Index, which tracks 48 industries. Nevertheless, they still outscored Chase (74), Citibank (70) and Bank of America (66).

Salinas Credit Union Reaches Out to Farm Workers03/20/2014A Salinas-based credit union has launched an ambitious growth strategy that focuses on acquiring new members from historically under-served communities such as farm workers. AllUS Credit Union, formerly the Monterey County Employees Credit Union, held a workshop Wednesday at the National Steinbeck Center to unveil its fledgling effort to sign up more under-served populations in the region, including seniors, the disabled and farm laborers.

Credit Unions Renew Push for Data Security Law03/20/2014Credit unions are repeating their calls to Congress to establish federal data security standards. In a letter on Wednesday to congressional leadership, the National Association of Federal Credit Unions pointed to recent high-profile data breaches, including one at Target that impacted the financial and personal information of tens of millions of consumers.

Numbers Rising for New Mexico's Credit Unions03/19/2014New Mexico's 48 credit unions ended 2013 with nearly $5.4 billion in loans on their books, a 9.3 percent increase from 2012, according to figures from the National Credit Union Administration. The credit unions ended the year with $8.5 billion in assets, a 7.1 percent increase from the previous year.

Nevada Credit Unions Report Growth Despite Looming Federal Regulations03/19/2014Despite looming federal financial regulations, some of the nation's largest credit unions grew at a healthy clip in 2013, according to a new report from a financial data company. Meanwhile, locally run credit unions noted marginal strides thanks to a slowly rebounding economy in the valley. 

Banks and Credit Unions Facing Heightened Risk Management Burdens03/19/2014U.S. banks and credit unions are carrying a much heavier regulatory and risk management burden than they were a year ago, according to the results of the latest Regulatory & Risk Management Indicator for the U.S. banking industry issued by Wolters Kluwer Financial Services.

Banks Ditch Free Checking at Breakneck Pace, But Not Credit Unions03/18/201472% of America¹s 50 largest credit unions still offer standalone free checking accounts, according to Bankrate's report. This is almost double the rate at the nation¹s largest banks and thrifts, where the percentage drops down to only 38%. Bankrate defines "free checking" as accounts with zero monthly service fees or point-of-sale transaction fees regardless of balance.

Kansas Credit Unions See 2013 Gains in Assets and Loans, but Profit Declines03/17/2014The regulator of Kansas credit unions said the industry ended 2013 with more assets and loans, but lower profitability.The Kansas Department of Credit Unions said the combined assets of state-chartered credit unions was $4.91 billion at the end of last year, compared with $4.69 billion at the end of 2012. That was a 4.6 percent increase.