Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
CU sees opportunity in down environment
STOCKTON, Calif. (2/19/09)--Finance Center CU sees opportunity in the down economic environment, its leader told the Record newspaper Wednesday. The newspaper, which serves the San Joaquin, Calif., area, interviewed three banks and Finance Center CU about challenges in planning their future courses and surviving the economic downturn (Recordnet.com Feb. 18). “In times of crisis, you can utilize the crisis to do things you forget about doing in normal times, to make yourself more efficient, to rethink your processes, to analyze what the industry is doing and what your place in the industry is,” Michael Duffy, president/CEO, told the newspaper. The $285.7 million asset, Stockton, Calif.-based credit union made a decision as far back as 2004 not to purchase new products that would have made it more competitive in the real estate market at that time. When Finance Center CU decided to stick with 20% down on mortgages, “people laughed at us,” Duffy told the paper, adding that it’s now clear the decision was the right one.
Other Resources

RSS print
News Now LiveWire
#FreeGasFriday courtesy of @tvfcu, TN #creditunions http://t.co/wDRFYJVlpz
1 Day ago
If you were unable to watch or attend @cuna 's @thehill Hill forum on Wed., you can now watch the archived version: http://t.co/FhUnp7HbU8
1 Day ago
Time is running out. If you haven't taken the #NewsNow readership survey, please click here now: http://t.co/4Gp6C2Wa4o
1 Day ago
African financial inclusion possible with mobile money: @IMFNews study http://t.co/0V5DTQToxY
1 Day ago
Louise Herring's birthday is Saturday. 105 years later, her legacy lives on through her kids http://t.co/oMqGADmo0d http://t.co/T3NmS9NqEY
1 Day ago