Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Atlanta Newspaper: Delta Community CU CEO Touts CUs' Service
ATLANTA (5/14/13)--Delta Community CU's new CEO, Hank Halter, took the opportunity to educate The Atlanta Journal-Constitution readers about the credit union difference, credit unions' structure and service orientation during an interview published in Sunday's edition.

The $4.37 billion asset, Atlanta-based credit union saw record growth in 2012, with a 13% increase--amounting to 30,000 new members-- after big banks imposed new fees or introduced minimum balance requirements, Halter told the publication.

Service is the biggest difference between a credit union and a bank, he said. "Our loyalty isn't divided. We're in business to serve the best interest of our members, period. By the nature of their structure, for-profit banks have to hold something back for the benefit of their investors."

Service and pricing are better at credit unions, Halter  said. "Because we're a not-for-profit organization, we can take a longer view of the customer relationship more easily than for-profit banks. Banks are under a lot of pressure to return higher earnings each quarter. Our employees view themselves as partners and advisers to our members. We look for ways to save them money and direct them to the best options, even if it reduces our revenue."

Credit unions can compete with banks' convenience through ATMs and their shared branch network. Although banks are larger, "credit unions do something banks generally don't do. Credit unions collaborate more freely. Because they're not-for-profit, they pool resources and make joint investments in services and technology that benefit all credit unions," he said.

Although credit unions serve more than 95 million members,  that is just 8% of the market, according to Credit Union National Association statistics cited in the article. "It's mostly a lack of awareness," Halter told the Journal-Constitution. "Many consumers don't know what credit unions are or the benefits we offer."

Raising awareness about credit unions is one of the three-pronged goals-- along with removing barriers and fostering service excellence--of CUNA's and credit unions' Unite for Good campaign to achieve a strategic vision where all Americans choose credit unions as their best financial partner."

To review the full article use the link. Also use the links for more information about the Unite for Good campaign or to find a credit union through aSmarterChoice.org.
RSS print
News Now LiveWire
Consumers stashing #cash in checking accounts: Moebs #NewsNow http://t.co/WPaPkzHufK
28 minutes ago
.@CUANYtweets hiking the Hill today with young #creditunion professionals http://t.co/9xgH2Aw2OM
36 minutes ago
.@CUSocialGood, @CafeGive partnership to measure Return on Intent for social, community efforts See #NewsNow http://t.co/LfpUes76KG
1 hours ago
Economic activity slowed in June, according to the #Chicago Fed's national activity index, released today #Market http://t.co/1pN6peM8my
16 hours ago
Money burns a hole in workers' pockets after payday, despite best intentions via @WSJeconomy http://t.co/A9SNiUdf9v
17 hours ago