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CUNA in the News


August 2013

Women: Are You Prepared for a Money Emergency?08/29/2013During last week’s 90-degree days in Washington, D.C., the air-conditioning unit in my home went kaput.The fan merrily blew hot air, but not a breath of cool slipped through the vents. As the indoor thermostat climbed and my dog began to look miserable, the solution was simple: Call someone to repair the air conditioner, pronto.

Credit Union Lending Hits Five-Year High08/29/2013"That’s critical because a lot of growth in the economy comes from the small business segment," said Paul Gentile, executive vice president of the Credit Union National Association. "If you look at the numbers, you can see where credit unions are playing a strong role, specifically if you look at the lending numbers," he added.

Women Need to Get Serious about Emergency Savings08/28/2013The recent Women’s Financial Survey from the Credit Union National Association revealed that roughly 59% of women age 45 to 60 don’t have an emergency fund that would cover their expenses for even six months. Only a hair more than a third (36%) of women ages 44 to 53 do. And The GenderGap GPS +0.54% in Financial Literacy survey released last year by Financial Finesse, a Forbes contributorand financial education firm in El Segundo, Calif., revealed that women are much less likely than men to maintain a rainy-day savings account.

Credit Unions’ Lending, Membership on the Rise08/27/2013New Mexico’s credit unions saw a 7.2 percent increase in loans in 2012, and their membership grew by 2.7 percent, according to figures from the Credit Union National Association. Credit union loans in the state totaled $4.9 billion in 2012, up from $4.6 billion in 2011. Membership grew to 710,600 from 692,000 in 2011.

Credit Unions Battle to Maintain Their Tax Status08/27/2013The Credit Union National Association has launched a grass-roots campaign encouraging its 96 million members throughout the United States to contact Congress in a bid deter the removal of credit unions’ not-for-profit tax status.

Military Payday Loan Laws Set for Review, Improvements08/25/2013The Credit Union National Association and Defense Credit Union Council provided 35 examples of credit unions on military installations that offer small-dollar loans as alternatives to payday loans.They urged DoD to continue its “targeted approach” against abusive lending practices and “to avoid unintended consequences for credit unions and some others that provide quality financial products and services at reasonable rates.”

Fed to Appeal Debit Card Fees Ruling08/21/2013"Although the Fed’s rule is far from perfect for credit unions, the district court’s decision compounds Durbin’s already negative consequences and is the wrong result for consumers," said Bill Cheney, chief executive of the Credit Union National Association.

FOXBUSINESS- By: Constance Gustke08/21/2013Since they're nonprofit institutions owned by their account holders, credit unions excel at giving back generous perks. They dispense free online financial education classes, college scholarships and discounts on cars. Some credit unions even put more money in your pocket by dispensing cash dividends every year.

BLOOMBERG BNA- By: Laura Tieger08/19/2013Mary Dunn, Deputy Counsel of The Credit Union National Association (CUNA) said Aug. 8 that this will enable credit unions as non-public entities to qualify for more flexible accounting requirements. In the U.S., legally and for tax purposes, credit unions are considered to be nonprofit organizations. Banks have long complained that credit unions’ status exempts them from many federal and state taxes, thereby giving them a competitive advantage.

BANKRATE.COM- By: Constance Gustke08/19/2013Since they're nonprofit institutions owned by their account holders, credit unions excel at giving back generous perks. They dispense free online financial education classes, college scholarships and discounts on cars. Some credit unions even put more money in your pocket by dispensing cash dividends every year.