CU*Answers Newsstand

This year marks a century of credit union service to the American people. The first credit union was organized in 1908 because banks and other financial institutions wouldn’t extend credit to low- or middle-income folks. Credit unions proved that ordinary people were responsible and would pay back their loans if given the chance. And they [...]

San Diego, Calif. (Oct. 27, 2008) – The National Association of Credit Union Service Organizations (NACUSO) conducted its 2008 Member Business Services Alliance, October 15 -17, at the Marriott San Diego Hotel & Marina.  NACUSO president/CEO Thomas C. Davis kicked off the Thursday morning general session with a powerful and urgent “state of the industry” [...]

While the financial markets are seizing, credit unions have an opportunity of a lifetime to serve their members and potential members.  Banks are seeking capital to survive; U.S. credit unions are well capitalized—averaging 10.9% net capital to assets in August 2008. Credit unions are financially healthy and have the ability to reach out to those [...]

Social networks and social media are changing the way credit unions communicate and market to members. The evidence is all around us, for example, many consumers no longer look for products or services in the Yellow Pages; they go straight to the Internet. They are more likely to use a variety of online tools to [...]

It’s ironic that those credit unions that could benefit most from collaboration tend to shy away from working with their peers. I’m talking about smaller credit unions—those under $50 million in assets—that could profit from the economies of scale enjoyed by joining a CUSO, but often pass on membership.
 
It’s more typical for the larger credit [...]