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
16.9% of U.S. homeowners underwater, down from peak 31.4% in 2012, reports @zillow http://t.co/EbILqY1HMz
12 hours ago
Breaking at #NewsNow: President Obama signs IOLTA bill into law. http://t.co/5N741Bygmn
13 hours ago
.@edmunds says the week between Christmas and New Year's is the busiest car shopping time of the year.
14 hours ago
.@CFPB sues Sprint for cramming 3rd-party service fees onto consumers' bills http://t.co/mhlMWqLKku
15 hours ago
#HomeDepot #databreach lawsuits consolidated in Georgia http://t.co/A4bei5z0mV
16 hours ago