Credit unions may have to face decision to raise fees themselves in near future, warns Raddon vice president.
Uncontrollable environmental factors such as stiff competition, low loan demand and regulatory changes have posed challenges for CUs looking to grow. But some are managing to do just that. Here’s how three credit unions, two in Oklahoma and one in Iowa, achieved growth in the midst of a recession.
Austin CU finds 65% of members have visited a branch in past 60 days.
Group of 20 selected from 500 analyzed for financials, sales, products and member household relationships.
Consultancy says it's advising credit unions to hold off as big banks test the post-Durbin waters.
With today’s economy still sputtering, credit unions–and just about any other organization across the nation–remain vigilant about cutting costs to survive and hopefully thrive when the economy returns to good health.
Two Florida credit unions, Pen Air FCU and Gulf Winds FCU, both of Pensacola, are on opposite sides when it comes to grappling with card rewards in the face of the coming cap on interchange fees and the impact of overdraft regulation.
Florida Panhandle institution cites impact of overdraft regulation last year and coming cap on interchange fees, pledges to work to keep free checking.
The initial predictions that branches would no longer be relevant surfaced around the time ATMs were first deployed in the early 1970s. Despite numerous predictions since then, branches continue to be an essential element of delivery strategy.
Pen Air FCU is adding to its rewards programs instead of taking away, bucking the current trend.