A Tampa Bay teacher has sued the 511,000-member $4.9 billion Suncoast Schools Federal Credit Union in Florida court, charging the CU repossessed her car after she fell behind on her mortgage payments.
While credit insurance and debt protection have been long-time staples for credit unions as part of their loan add-on product suites, some experts noticed that they are becoming more of a priority as the industry continues to seek new noninterest income streams.
There’s a special kind of member we’ve heard a lot about recently. They’re the types who come in for a car loan or a credit card or, more recently, move their money from a big bank to a credit union. And after that initial transaction, they go quiet.
Is Bank Transfer Day more hype than consumer revolution?
Fourteen new members in past hour. CEO says, "It's amazing, the flow of traffic in our lobby."
More people still likely to switch, experts say.
When Rep. Tim Scott (R-S.C.) was a board member at Heritage Trust FCU, he and his colleagues were focused on expanding the reach of the credit union and seeing how it could best serve its members.
If a new report is any indication, online banking adoption appears to have reached its limit.
Ideas danced in the air and inspiration was shared, with practical applications underlying it all, at the CU Water Cooler Symposium in the FORUM CU conference center in suburban Indianapolis.
Like some financial advisers after the 2009 merger of brokerage giants Morgan Stanley and Smith Barney, Michael Salardino said he had grown frustrated with the changes the trillion-dollar consolidation brought on.