BURTON, Mich.–Every credit union has seen and heard the statistic—half of all Americans lack $400 for a financial emergency. For one CU the recently concluded strike by GM workers offered a real-life look at whether that statistic is accurate, as well as the strategies that work best when members hit a prolonged financial challenge.
MOLINE, Ill.–One credit union is contending geographic distance should no longer hinder mergers among credit unions, and that those who limit their scope to “local” may someday place the business at risk.
ONTARIO, Calif.—Auto loan terms can't continue to be extended out longer and longer, so something has to change with financing and the way dealers sell cars to keep the price of vehicles affordable for consumers, points out CU Direct.
RICHMOND, Va.—A tiny credit union here believes in tiny weddings, and that’s just what it held over the weekend for two of its members during a local Christmas parade.
ORLANDO–Three Millennials who are credit union board members—including one who is chairman—offered advice and strategies to other (and older) board members here on how to attract younger people as volunteers—while making clear “being a Millennial” isn’t all they bring to the credit union.
KENT, Wash.—One merger expert is predicting the recent acquisition of a credit union by a bank will not just set a precedent for similar acquisitions, but will also lead more credit unions to convert to private insurance.
WASHINGTON—One credit union that has successfully submitted a secondary capital plan to NCUA says the agency has not restricted the flow of the funding, and is offering advice to credit unions to avoid road bumps.
FAIRFAX, Va.—Significant changes made by Facebook to its advertising rules are going to affect how credit unions use the platform to promote themselves, and it will require much greater use of analytics to assess return on investment, experts say.
WILLISTON, Vt.—Understanding student-athletes have unique needs when it comes to financial education, one university is partnering with a local credit union to make financial education part of the school’s curriculum.
LAKE FOREST, Ill.—Employing fewer—but highly productive—staff is the key to offering high deposit rates, asserts one economist who says CUs are less efficient than banks and thrifts in this area.
