Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Delaware CUs carve out a niche counter bank rhetoric
WILMINGTON, Del. (11/27/07)--Delaware’s credit unions, by offering lower service fees and better interest rates than banks, have carved out a niche for themselves in the financial services industry, according to a Monday article in the Delaware Business Journal. While some credit unions may not have as expansive branch networks as banks, credit unions have an advantage in offering smaller, more consumer friendly options, the article said. “It’s a different atmosphere,” said Patrick Mahaney, president/CEO of the Delaware Credit Union League, referring to the facts that unlike banks, credit unions are non-profits, have no shareholders, and have boards of directors composed of unpaid volunteers from the credit unions’ membership. The article describes examples of what attracted member Oneil Williams to the $152 million asset, Wilmington, Del.-based Dexsta FCU: personal, friendly service and being recognized by all the credit union employees. The Credit Union Membership Access Act, which allowed credit unions to apply for a charter to permit membership to anyone who lives, works, worships or attends schools in a designated community, is recounted in the article. Also mentioned is how the Credit Union Regulatory Improvement Act (CURIA) would free up more credit union assets for business lending. The article notes the battle lines drawn between credit unions and banks over CURIA, which is pending in Congress.
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
11 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
14 hours ago
#HomeDepot #databreach lawsuits consolidated in Georgia http://t.co/A4bei5z0mV
15 hours ago