Commentary

Melissa Member enters your credit union and asks Stella Teller for help, after bouncing seven checks at a fee of $20 each. (Her husband inadvertently deposited his paycheck in his own account, instead of their joint account.) What's the right response? a)"I'll transfer the funds to the right account, but...

WASHINGTON-President George W. Bush issued a new Executive Order aimed at freezing the assets of a number of known terrorists. Financial institutions have been directed to block the assets of those on Treasury's `Specially Designated Nationals' (SDN) list compiled by the Office of Foreign Asset Control (OFAC) and immediately contact...

Until just the last few years ago, credit unions have seemed immune to fraud losses while other financial institutions have been hit hard. With banks taking a more aggressive posture against fraud and credit unions allowing for more competitive account opening criteria, fraud operators have taken notice. And fraud losses...

In recent articles in Credit Union Times and other publications, it seems that some state-chartered, federal-insured credit unions have begun a public campaign to call for an end to, or at least a reduction to a de minimis level of, the Overhead Transfer which helps balance the funding of the...

The events of Tuesday, Sept. 11, 2001, shook our nation to its very core, challenging us to reach within and examine what it is we truly believe, what is truly important to us. While the credit union community was blessed, particularly in comparison with other sectors of the financial services...

In today's fast-paced society, writing a check, or standing behind someone who is, has become a frustrating and time-consuming task. More than ever, consumers are turning to debit cards for a wide variety of goods and services that have traditionally been purchased with checks or cash. In fact, debit card...

While our nation's policy-makers continue to wrestle over elements of the long overdue bankruptcy reform legislation, millions of consumers across the country are facing the daunting prospect of how to manage mounting personal debt. Consumers looking to avoid bankruptcy and regain financial stability are taking matters into their own hands...

It is understood in the industry that retention of membership improves dramatically when each member participates in one additional credit union program. Ultimately, each credit union sets a goal to be each member's primary financial institution. Effective delivery will bring your institution a step closer to that goal. Meaningful programs...