LAKE FOREST, Ill.—In a period in which the CFPB, consumer groups and much of Washington are focused on financial institution fees, a new study reveals credit unions are well ahead of banks when it comes to website transparency of their pricing and policies.
ENDWELL, N.Y. – Visions FCU is piloting a new high-tech employee name badge that it said is building bridges and deeper relationships with members who have trouble hearing, as well as with those who don’t speak English.
DES MOINES, Iowa—One credit union that has reduced its overdraft price to $10 says a price change alone isn’t enough to ensure members are treated fairly, so it has also hired a full-time financial counselor to proactively reach out to members who are heavy OD users.
ANN ARBOR, Mich.—After a five-year slide in perception of service satisfaction by American consumers, credit unions have narrowed the gap with banks in a newly released national survey. And the big reason is consumers’ definition of good service is shifting back toward CUs’ “sweet spot,” says the report’s author.
DULUTH, Ga.—In recent years credit unions have embraced diversity, equity and inclusion (DEI) programs as eagerly as any industry, but amid growing “DEI backlash” the issue and the efforts have come under growing scrutiny. But Renee Sattiewhite believes credit unions remain committed, even as room for improvement remains.
ALPHARETTA, Ga.–With the Federal Reserve announcing its Bank Term Funding Program (BTFP) will cease making new loans on March 11, will the credit unions that have turned to it be able to manage through what is expected to be a continuing liquidity challenge this year and next?
PLANO, Texas—With analysts warning the new FedNow offering is a double-edged sword—as faster payments benefit consumers and criminals alike—credit unions are being urged by Catalyst Corporate to implement “layered” defenses.
LOVELAND, Ohio–It’s unlikely there are any other pair of words that have elicited more responses, emotions, marriages, divorces, wars and peace than these—love and money—and credit unions often find themselves at the intersection.
LAKE FOREST, Ill.—A “new era” in checking—and overdrafts—is upon financial institutions, and those that adopt the new ways of the market will prosper, while those that don’t will lose money and will likely become a target of regulators, one economist is stating.
ALEXANDRIA, Va.—Not only will credit union overdraft programs be getting scrutiny this year from NCUA, but the agency will also be expanding the number of credit unions it will be watching, according to Todd Harper, who said the issue is about more than just fairness for consumers but also about concentration risk.
