Guest Opinion: Economy Grows From Partnership
We never forget defining moments in history and where we were when they were defined. That certainly is true of the financial crisis that rocked our country’s financial system, businesses and our overall economy in 2008. Like other industries, credit unions strongly felt the impact of the lack of demand for credit, mortgage foreclosures, and hits to fee income as a result of heavy regulatory burden.
Credit unions still want to remain true to their mission of providing their members with outstanding service, a full range of products and services, better rates and lower fees. All quite challenging considering the environment in which they’ve been doing business.
Third, drive credit union credit and debit transactions. ShopAmerica has thousands of partners who offer discounts on their services bought with debit and credit cards online.
Nationwide, 3,000 credit unions, representing more than 70% of members, support IIA. The program has helped sell over 460,000 GM vehicles while generating an estimated $4.1 billion in credit union loans. Members have also saved $138 million on wireless services with Sprint and provided precious fee income for credit unions.