As is the case in many other states, small businesses continue to feel the freeze in New Jersey as their lines of credit and credit card balances have been slashed despite their ability to meet their obligations.
Notwithstanding the exit by big banks, Arizona's largest credit union, the $2.8 billion Desert Schools Federal of Phoenix, remains in the industry mainstream where it comes to free checking services with 62% of its members in the mix.
By the end of 2010, the banking industry is expected to have earned $35.4 billion in overdraft fee revenue, down from $37.1 billion in 2009 and on track with 2008, according to a recent Moebs Services study.
There is a trend in the US-one that seems like a custom-fit opportunity for credit unions, yet one that most credit unions are missing. It's called localization or buy local.
Peter Barnard, a partner with 320 Market, LLC, discusses the buy local movement happening across the country and how credit unions fit in.
Credit unions enjoyed being the last ones standing in the auto lending market over the past year, but the competition has started to come back full force.