Technology CU members will determine what they want in their CU's future; Bank of America has fiduciary duty to recoup interchange losses.
The board of directors of $1.5 billion Technology Credit Union has written the CU's 74,000 members that they may be better served by converting the credit union to a bank.
When Technology Credit Union posted its announcement that it was exploring a conversion to a mutual savings bank, CUNA and the California Credit Union League made some noise. CUNA CEO Bill Cheney said his organization feels credit unions are the best providers of service to consumers.
California league, CUNA CEO's express misgivings about Tech CU proposed conversion to bank.
Now that the deadline for the Durbin amendment interchange cap to take effect has passed, financial institutions are continuing to develop ways to offset lost interchange revenue. One solution? Raise fee income by making debit and ATM transactions more expensive for consumers.
Now that the deadline for the Durbin amendment interchange cap has arrived, financial institutions are looking hard for ways to replace lost interchange revenue.
Seeking to liven up International Credit Union Week, the Ohio Credit Union League is going for the "reality" show gambit with a three-city financial literacy program.
Guest Blogger Walt Laskos opines on credit unions acting as cooperatives as we near 2012, the International Year of the Cooperative.
The Texas Credit Union League, joined up with NCUA, began warning CUs Wednesday to make sure disaster preparation plans are firmly in place in advance of Hurricane Alex.