Credit Unions in the News

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Avoiding Costly Mistakes When It Comes to Your Mortgage10/15/2014Whether it’s your first home or your retirement home, there are ways to avoid having costly mistakes when it comes to getting your mortgage. Andy Mattingly with Forum Credit Union joins FOX59 with a few helpful tips for a successful experience. What is the most common issue for people when applying for a mortgage?

Detroit high school opening student-run credit union10/13/2014Detroit students are breaking down barriers to financial literacy. Central Collegiate Academy students will be running a new branch of the Detroit Metropolitan Credit Union inside the school, getting some very hands-on learning for financial skills. 

Tulare County Federal Credit Union offers drought help10/10/2014Tulare County Federal Credit Union in Poterville, Calif. is putting their members first in responding to the high demand for well drillers in the area. During this tough time, the credit union has created a special low-interest loan for members to cover the high costs of well drilling. 

Credit unions amp up business lending10/09/2014Credit unions in New Mexico have recently ramped up their amount of small business lending. More and more businesses are going to credit unions because they say it's easier – credit unions can act faster, the terms are better and overall it's just a more pleasant experience than dealing with the banks. 

Credit unions step up for food drive10/06/2014The Hawaii Credit Union League invites credit union members and the public to donate either monetary or nonperishable food to benefit the Kauai Independent Food Bank at credit unions on Kauai. The league has established "End Hunger" as its theme with a goal to raise $10,000 in monetary donations and 10,000 pounds of food.

Wal-Mart's new checking account not the cheapest10/03/2014"They're probably going to find a cheaper option, provided they don't overdraft the account," said Mike Mercer, the chief executive of Georgia Credit Union Affiliates, a trade association for credit unions, on Wal-Mart's new digital bank account that they're billing as a cheaper, game-changing alternative to traditional checking accounts that almost anyone can qualify for. In terms of annual costs, AJC found that Wal-Mart's new GoBank account ranked behind more than a dozen accounts offered nationally online or locally by several credit unions and banks. Not such a great deal after all.

Credit union supports Children's Hospital10/03/2014First Mississippi Federal Credit Union in Meridian stepped up to support the Blair E. Batson Children's Hospital. It hosted a Cooking for Kids fundraiser Friday. The business sold hamburger and hot dog plates with the proceeds going to the Jackson hospital that serves kids statewide.

UMassFive College Federal Credit Union uses BuzzPoints to encourage local shopping09/24/2014UMassFive College Federal Credit Union is working with marketing company Buzz Points to encourage UMassFive members to shop at locally owned businesses.

Small Credit Unions Offering Big Home Loans09/24/2014Jeff Banyas, vice president of lending at the 17,000 member Department of Commerce Federal Credit Union (DOCFCU), says smaller credit unions often use jumbo mortgages to build member relationships. DOCFCU, to compete with banks and larger credit unions, checks rates at about eight lenders and then tries to price DOCFCU jumbos at a rate that is one-eighth of a percentage point lower.

A need for more data security09/23/2014Patrick La Pine, president/CEO of the Tallahassee-based League of Southeastern Credit Unions & Affiliates, weighs in on data security and urges Congress to act to protect consumers by taking steps to enhance data security standards for merchants.

Free gas Friday09/19/2014Local credit unions, like Tennessee Valley Federal Credit Union, were giving away $25 in free gas to the first 100 customers to help educate the community about the advantages of using credit unions.

NerdWallet’s #CUFinLit TweetChat shows how credit unions help students learn09/17/2014NerdWallet’s Banking team recently held a TweetChat focusing on the ways that credit unions currently work to improve financial literacy for high school and college-age students and how those efforts can improve in the future.

Steal this: Facebook ideas from power 100 credit unions09/16/2014Take a look at some of the most successful credit unions on Facebook and see what ideas you can use to help grow your social presence.

Everett paper mill’s gone, but credit union thrives09/16/2014Mill Town Credit Union in Washington has always put its members first, mill or no mill. The closing of the mill was hard on their membership, but they worked with anyone that needed help. The institution allowed extensions, reduced payments and shifted to interest-only payments to help former workers until they could get back on their feet.

Finding innovative alternatives to payday lenders09/14/2014The Dallas Morning News points to credit union practices as better alternatives to payday loans. Credit unions are testing payroll deduction plans that allow employees of participating companies to continue making payments into savings accounts even after they have repaid the debt. This encourages savings and discourages workers from having to run to predatory lenders.

West Texas Educators Credit Union offers financial services to everyone09/11/2014West Texas Educators Credit Union is focused on their members by offers free credit counseling, and their willingness to pull a customer’s credit report and go over it with them. WTECU strives to provide services and guidance to increase their member’s financial health.

Make merchants accountable for data breaches09/09/2014An op-ed by Diana Dykstra, president and CEO of the California Credit Union League, states that Congress and the state Legislature must act to protect consumers by taking steps to enhance data security standards for merchants following data breaches like Home Depot.

Financial experts, institutions prepare to deal with Home Depot data breach09/09/2014Shelby Biel, CFO of Tulsa Teachers Credit Union, tells people they need to be vigilant by always monitoring their financial accounts. If fraudulent activity is visible, customers should contact their bank to not only possibly avoid being charged for the purchases, but to also receive new debit and credit cards and even PIN numbers.

Georgia credit unions report healthy growth09/08/2014Georgia’ s credit unions reported a significant jump in loan growth in the first half of the year as consumers cut their credit card balances but took out more loans to buy new and used cars. Additionally, the membership in the state’s credit unions grew 2 percent in the same period, to more than 2 million.

Credit union offers saving incentives for Penn-Trafford students09/03/2014After starting a branch at Penn-Trafford High School last year, the Westmoreland Community Federal Credit Union is now offering a savings program in the district's elementary and middle schools in an effort to improve children's financial literacy by teaching them how to make good choices with money as they grow up.