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

Washington
Short term-loans could increase CU market share Hood says
WASHINGTON (5/11/09)—The current economic climate presents Credit Unions with a “unique opportunity” to gain crucial market share by helping current payday loan customers transition into credit union members, National Credit Union Administration (NCUA) Vice Chairman Rodney Hood said. In a May 8 release detailing recent comments delivered to the 2009 meeting of the National Association of Credit Union Service Organizations (NACUSO), Hood said that CUs and related service organizations could “play a vital role in ending the downward cycle for consumers involved in payday lending,” by serving as a “dependable and honest partner” to consumers. Adding current payday loan customers to the ranks of credit union members would not only offer increased options to borrowers with short-term financial needs, but could also create a new revenue stream for CUs, Hood added.


RSS





print
News Now LiveWire
.@CUNA's @Nussle on @SenatorReid :(2of2)On behalf of more than 102M #CU members,I thank him 4 his leadership over the yrs/wish him the best.
43 minutes ago
.@CUNA CEO Nussle on Sen. Reid’s decision not 2 seek re-election (1of2): Sen. Reid has a long history of #CU support throughout his career.
47 minutes ago
#Jobless claims duck under 300K for 3rd straight week #Market #Economy http://t.co/jOsZWf9HNJ
52 minutes ago
62% worry about financial stability: @CUNAMutualGroup study http://t.co/5jCM1I1hnA
2 hours ago
.@nytimes reports Sen. Harry Reid, Senate Democratic leader since 2005, will not seek re-election next year,
3 hours ago