DETROIT—While the use of subordinated debt has been increasing in credit unions, one lawyer believes not enough credit unions understand the option, which is preventing many more CUs from using it.
THE feature
OKLAHOMA CITY, Okla.—One credit union that has markedly dropped its overdraft fee is contending that much of the bad press CUs and ODs are getting is unwarranted, and with many more members now using the service regularly, it is proof of the value of a well-priced overdraft.
SUNNYVALE, Calif.–A credit union that has now won an award for nearly a decade for the value it returns says the secret to big annual returns can be simple—if the credit union does one thing.
WESTERLY, R.I.– While home prices have jumped “dramatically” here, average credit scores are also high, and Westerly Community CU has responded with a 1% downpayment first-time homebuyer mortgage that is also aimed at boosting relationships with younger members.
CHICAGO—Not only are ransomware attacks continuing to increase, but so, too, is the use of social engineering, according to one company that says the tactic is allowing criminals to more effectively impersonate people in positions of authority, allowing them to fool employees into making critical mistakes.
EAST LANSING, Mich.—One credit union that’s installing EV charging stations for member and non-member use believes the step, while a revenue producer, will do more for the cooperative as a means to keep it relevant.
TULSA, Okla.—Looking to offer cryptocurrency services to its members, one credit union has developed its own, unique crypto platform by partnering with several vendors.
LAWRENCEVILLE, Ga.—What’s the average price of a used car? For 40% of the cars on dealers’ lots it’s above $30,000—a price tag that’s making even these vehicles unaffordable for many consumers, says Black Book, which is predicting that in 2024 the trend of rapidly accelerating values should begin to level.
LAKE FOREST, Ill.—With the math and some analysts suggesting most financial institutions will eliminate overdrafts if the new CFPB overdraft proposal becomes a rule, one economist is recommending an “overdraft holiday” be held to highlight the importance of the service to consumers.
KOLOA, Kauai–When it comes to the relationship between large and small credit unions it doesn’t have to be a one-way street that involves a merger, according to one person, who shared examples of how such relationships can be mutually beneficial for both.