Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Families take refuge in CUs during economy
PEWAUKEE, Wis. (10/22/10)--Because of their unique member-ownership structure, credit unions have provided Wisconsin consumers a critical safety net in 2010, said the Wisconsin Credit Union League (WCUL) in a press release marking International Credit Union (ICU) Week. Helping consumers stay afloat and also improve their financial position are objectives of credit unions’ REAL Solutions initiative that helps consumers without regard for profit, the release noted. During the year, credit unions have:
* Reconfigured loan terms to help families affected by job losses or health problems make ends meet * Consolidated debt at lower rates for consumers when other lenders applied massive rate hikes * Sorted out complex financial challenges to help members create or manage a budget * Provided free financial counseling or refinancing to prevent home foreclosures * Rescued consumers from payday loan traps that had overwhelmed them * Granted small loans of $500 or less at modest interest rates * Improved or preserved members’ creditworthiness with a variety of special programs and services * Conducted free financial seminars for members, schools and community groups * Made loans to small businesses to preserve jobs and fill the void for available business credit.
Prioritizing people over profits is the fourth of five WCUL press releases celebrating credit union contributions during ICU Week.
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
28 minutes ago
Breaking at #NewsNow: President Obama signs IOLTA bill into law. http://t.co/5N741Bygmn
1 hours ago
.@edmunds says the week between Christmas and New Year's is the busiest car shopping time of the year.
3 hours ago
.@CFPB sues Sprint for cramming 3rd-party service fees onto consumers' bills http://t.co/mhlMWqLKku
3 hours ago
#HomeDepot #databreach lawsuits consolidated in Georgia http://t.co/A4bei5z0mV
4 hours ago