Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
MDDCCUA CEOs letter on courtesy pay in IUSA TODAYI
NEW YORK (8/13/09)--A letter in Wednesday's USA TODAY from Maryland and District of Columbia Credit Union Association President/CEO Michael Beall says that courtesy pay is a safety net for struggling members. Beall responded to a recent article about courtesy payments, which cover members' checks when they have insufficient funds. The orginal article indicated the service is primarily a profit center "Such courtesy payments are a short-term safety net for members struggling to stay on their feet," Beall wrote. He noted the article underscored important differences between courtesy payment programs of credit unions and those of banks: credit unions charge less than banks and typically use the fee to subsidize favorable interest rates on other services. Credit unions realize their obligation to educate their members about the financial responsibility, he said. Beall's letter was published on the newspaper's editorial/opinion page and online. For the full letter, use the link.
Other Resources

RSS





print
News Now LiveWire
Consumer spending is slumping #Market #Economy http://t.co/RI4HS68IuJ
6 hours ago
April is #NationalFinancialLiteracyMonth & @TheNCUA Chair Matz urges #creditunions to help members learn to manage/protect their finances.
8 hours ago
Fed. FI regulators' statmnts on compromised credentials/destructive malware #cybersecurity http://t.co/f4uTBDm1PU http://t.co/zP5Iw6VxZc
9 hours ago
Home prices rising faster than wages: @RealtyTrac #NewsNow #Market http://t.co/wa74mnw3Cu
11 hours ago
.@Nussle dropped by the @ACUMuseum recently. Read about his visit http://t.co/bYe8RRgYLP
12 hours ago