The tough NCUA financial literacy requirements for credit union volunteer directors came as a loud wake-up call on Jan. 27, 2011. And the provision came with a requirement that all new directors had to gain financial literacy within six months of their election.
It started simply enough. Bank of America announced, and later reversed, a decision to charge debit card users a $5 fee.
If John Worth worked at the United Nations, he might be helping delegates understand a language that is quite different from their native tongues.
There may be only four or five corporate credit unions within 10 years. There isn’t that much business out there. "The small won’t survive,” predicted John Fiore, CEO of Motorola Employees Credit Union and a key figure in the recapitalizing of Members United as Alloya. “Within a couple years we...
Is Bank Transfer Day more hype than consumer revolution?
More people still likely to switch, experts say.
Reaction from around the industry has been highly mixed. In general, a great diversity of thinking exists across the industry as to what’s important and relevant. That’s good. In formulating your own opinions, there are several pieces to consider.
The Obama administration announced on Oct. 21 the nomination of Carla M. Decker, CEO of District Government Employees FCU, to replace NCUA Board Member Gigi Hyland, whose term has expired.
Credit unions by and large have been seen as the good guys in the ongoing housing finance crisis. In general, more conservative underwriting prevented most credit unions from making the mortgage loans that were most likely to wind up delinquent.
If more people transfer their accounts to credit unions because of Bank Transfer Day. it could be a mixed blessing for some credit unions. However, that’s a problem many credit unions would be glad to worry about.