Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Michigan CU Card delinquencies lower than normal
ISHPEMING, Mich. (3/11/09)--Ishpeming Community FCU says that its members are hunkering down to pay bills and manage debt, which is consistent with what a consumer tracking agency that monitors debt found. TransUnion, which tracks consumer debt, found that the number of people who are three months behind on their bank card payments dropped 11% during fourth quarter 2008, from the year before. Consumers also restrained their spending during the holidays, adding less than 2% to their balances, the bureau found. Ishpeming Community FCU, based in Ishpeming, Mich., told Upper Michigan's Source.com that its delinquency is "quite low." It averages about seven credit card delinquencies a year but currently it has four credit card delinquencies. Toni Lawson, consumer loan manager at the $93.4 million asset credit union, told the publication that people are being more conservative and watching their spending because they're nervous about the economy. Nevada led the nation with the highest incidence of delinquency, with bankcard borrowers 90 days or more delinquent on one of their cards, at 2.04%. Florida ranked 1.71% and Arizona ranked 1.54% (Jacksonville Business Journal March 10). The highest state average of debt on a bankcard was $7,466, in Alaska, followed by Nevada at $6,638 and Tennessee at $6,560. The lowest average bankcard debt was in Iowa, with $4,267, followed by North Dakota with $4,414, and West Virginia with $4,555.
Other Resources

RSS print
News Now LiveWire
Stay tuned for coverage of @CUNA's BSA conference which starts Sunday. #CUNABSA #CUNACompliance
10 hours ago
Today's the last day to complete @CUNA's Home Depot data breach survey http://t.co/UcB8G9bVXe #StoptheDataBreaches
12 hours ago
Brenda Davis of Cross Roads Ministries will walk through 83 communities during the Ending Hunger Walking tour. (2 of 2)
13 hours ago
The Ending Hunger Walking tour, coordinated by the Maine CU League, kicked off at Old Maine CU in Augusta today. (1 of 2)
13 hours ago
Darwin Brokke of Citizens Community CU represented the #CU Association of Dakotas at a housing summit hosted by @SenatorHeitkamp
13 hours ago