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Credit Unions in the News


Most Recent

Credit union contest is on the money02/18/2015Eleven Northeast Ohio credit unions will team up this spring for the first time to promote financial education to local high school students through the "Mad City Money" scholarship competition April 18 at Lakeland Community College. More than 300 students will compete in a family budgeting competition for a chance to earn a $3,000 college scholarship. The program, subsidized by a grant from the Ohio Credit Union Foundation, has been an annual affair for Cardinal Credit Union, but this marks the first year for the partnership with other institutions. 

9 reasons to love credit unions (and not big banks)02/18/2015Unlike big banks which are profit driven, credit unions are owned and operated by their members. This crucial difference enables credit unions to focus on the financial interests of its members by offering a higher savings rate, lower fee and lower rates on loans.

Behind the list with Christine Andrew of NE PA Community Federal Credit Union02/16/2015Christine Andrew, business development specialist at NE PA Community Federal Credit Union in Stroudsburg, answered questions about the services and benefits of belonging to a credit union. The credit union provides on-site professional counseling services to members. The NE PA Credit Union also has student branches located within two local high schools. These branches are staffed by high school students, with an on-site supervisor from the credit union.

Credit union uses acts of kindness to 'spread the love'02/15/2015Inspired by the community and national outpouring of support for James Robertson, officials at the Public Service Credit Union in Romulus, Michigan decided to "pay it forward." Employees spent about $500 to fund various acts of kindness, such as handing out food and filling up gas tanks, to the amazement of credit union members and residents of the Romulus area. The campaign, called "Spread the Love," is creating awareness in the local community. 

Credit union to expand current community charter02/12/2015The Enfield Community Federal Credit Union (ECFCU) announced that they have been approved by the National Credit Union Association to expand its community charter. This expansion allows membership to be available to any individuals who live, work, worship or attend school in and businesses and other legal entities located in Hartford County, Connecticut or in Ellington, Somers or Stafford in Tolland County.

GTE Financial opens student-run credit union at Southeastern University02/11/2015Working to ensure that college students are financially literate, a student-run credit union in Lakeland will teach fellow students financial literacy both inside the credit union and in personal finance classes required by Southeastern University.

Prospera Credit Union offers free budgeting seminar02/09/2015Just in time for tax season, Prospera Credit Union in Menasha is offering a free budgeting seminar. The seminar will be on how making a budget can impact money management and provide tips on making choices on must-haves, wants and savings.

Bill would require new data-breach rules for NM businesses02/09/2015New Mexico, Alabama and South Dakota are the only three states that don't have laws requiring businesses to notify customers of data breaches when their credit information is stolen. Legislation has been introduced in the state to require notification and Paul Stull, the president and CEO of the Credit Union Association of New Mexico, said the bill is a way to curb data breaches and let customers know they have protections before those protections expire. "It gives a merchant, once they learn of the data breach, 45 days to notify their customers," Stull said. "This is good because a lot of times the zero-liability protections on fraud run out at 60 days."

Why 2015 is the year to switch to a credit union02/07/2015Data compiled by SNL Financial and the National Credit Union Administration suggest that credit unions offer lending rates that are on par or better than the nation's banks. The average credit union prices its credit cards, car loans, and mortgages at rates lower than the average for-profit banking institution, in part due to the efficiency of a not-for-profit business model.

Money Month: Credit unions VS banks: what's good for your money?02/05/2015Bill Maurin, President and CEO, Meridian discusses why credit unions are taking market share from the big banks.

Ready to grow: Sno Falls President/CEO has big plans for credit union02/02/2015Tim William, President and CEO of Sno Falls Credit Union in Washington is working with his staff to push out innovations and new products including: a recently completed rebranding effort, the launch of a new website in December, the new checking account offering this month, the new computer system to be implemented in February, and the updated online banking system and mobile banking app. And that's just the start – there's good things ahead here!

Buying a car in 2015? Here's why credit unions are your best bet02/01/2015On average, used car buyers would save as much as $398 by using a credit union, while new car buyers who pick the lengthiest loan term would save the most -- $1,220. Across the board, credit unions have much better auto loan rates than banks do. Over time, the difference can add up to serious savings -- savings worth shopping for.

Central Macomb Credit Union offers real life lessons at L'Anse Creuse High School01/29/2015Central Macomb Community Credit Union staff visited L'Anse Creuse High School earlier this month to conduct a real-world budgeting simulation with students. The credit union has educated over 350 teens on the importance of budgeting during this school year. 

Credit union's growth a combination of slow-cooking, big steps01/24/2015Jersey Shore Federal Credit Union has grown dramatically since it opened its doors in 1963. The credit union widened its potential customer base over the years by changing its charter and appealing for membership because of a style of personal service compared to the big nationwide and regional banks. 

Mid-Missouri Credit Union employees support local charity01/23/2015Employees at local Mid-Missouri Credit Unions (MMCU) have been doing their part to help local charities by employees paying $10 each month to wear jeans to work on Fridays, with all the proceeds going to local charities. A different charity is selected each month based on the input of the employees.

Dubuque credit union to match college savings for HEART program students01/22/2015Dupaco Community Credit Union is promising to match every dollar that students in Dubuque's Housing Education and Rehabilitation Training program, also known as HEART, save for college. Dupaco Community Credit Union believes helping students save for trade school tuition is a good way to keep the soon-to-be skilled workers in the community. "A lot of skills are a lost art. A lost trade. We need to look at alternatives to help kids have sustainable, wealth building careers," said David Klavitter with Dupaco Community Credit Union. 

McHenry: Keep scaling back Dodd-Frank01/21/2015Rep. Patrick McHenry, the new vice chairman of the House Financial Services Committee, discussed his concerns that the Dodd-Frank Act is stifling credit unions' ability to lend and said his "number one priority is to ensure that we get lending moving again."

Recent divorcee loses $5,000 in online dating and check scam01/21/2015"If you deposit a bad check into your account and your financial institution receives that check back, you have to make good on it," said Stacy Tallent, president of Health Center Credit Union of Augusta. It can be difficult to spot a fake check. A few clues include: the check is printed on poor quality paper, it lacks a watermark, or does not have an address for the bank it's drawn on. Even then, Tallent said it can be hard for even bank tellers to tell the difference because the quality of fake checks are getting to be so good. 

2014 Banking Landscape Report01/20/2015No surprise here: The report found that credit unions continue to provide the best deals, offering over 10-times more interest on checking accounts than regional banks as well as 573% higher rates on savings accounts than national banks.

Ways you can make a financial fresh start in 201501/06/2015"As consumer-owned financial institutions, credit unions are wholly invested in their members' financial future, making them a great alternative for consumers looking to start the New Year fresh," says Diana Dykstra, president and CEO of the California and Nevada Credit Union Leagues. "They typically offer lower interest rates on loans, lower fees on services and higher rates on savings."