Many smaller financial institutions have become increasingly disconnected from the way people live today because they continue to operate on outdated technology that hasn’t kept pace with what consumers need.
Credit unions often find it difficult to provide international payment services to their members, the demand for international drafts, wires, international ACH and encashment of foreign receipts grows daily as global trade becomes an increasingly important part of business for companies and individuals.
Bluebird, the new prepaid card product being rolled out by Walmart and American Express, will provide banks and credit unions with additional competition in transaction accounts and technology.
Filene researcher does see increased competition from Amex/Walmart offering, while Latino Community CU, Consumers Union say full-service still needed.
The wind down of U.S. Central Bridge Federal Credit Union’s payment services “has progressed more smoothly than originally anticipated”, the NCUA said in a recent letter to credit unions.
Agency says ACH to transition completely by Sept. 30 with complete shutdown now expected on or about Oct. 31 instead of Dec. 31.
Paul Yang, CEO of the $124 million Premier Community Credit Union in Stockton, Calif., was named the recipient of the CO-OP THINK Prize 2012.
BALTIMORE — "We want people to know we're not the devil," financial innovations chief at PayPal tells Credit Union Times.
Do credit union members think more positively than non-credit union members do when it comes to the U.S. economy and their personal finances? According to the Discover U.S. Spending Monitor, a monthly consumer survey conducted by banking and payment services giant Discover Financial Services, the answer is yes.
Corporates veteran had been Catalyst executive vice president; succeeds retiring Dianne Addington.