LAS VEGAS — What good would offering members a new app for their mobile phones or building a stronger social media presence do if there is a crumbling wall of trust between a CEO and employees? Credit unions continue to be reminded that survival for many of them means earning...
New network comprises more than 1,700 credit unions, 4,400 branch locations and 2,200 kiosks in 7-Eleven stores.
Soon there will be but one shared branch network serving credit unions across the country, companies say.
If the roughly 73,000 members of Technology Credit Union, a $1.5 billion institution headquartered in San Jose, Calif., vote to convert to a mutual bank charter, they will likely find their increased expenses not restricted to taxes alone, according to CUNA Chief Economist Bill Hampel.
Members would lose access to network if conversion to bank goes through.
In a move which some have seen looming for years, CO-OP Financial Services and Financial Services Centers Corp. have signed a letter of intent to merge their shared branching operations.
Combination would create a single nationwide shared branching network for U.S. credit unions.
With much more at stake, it is no surprise that credit union service organizations are sounding the alarm louder than credit unions regarding an NCUA proposal that would alter how CUSO relationships are regulated.
The nation's two nationwide shared branching networks took large strides into member service and mobile banking with two announcements at CUNA's Governmental Affairs Conference last week.
A new partnership between Financial Service Centers Cooperative Inc and a leading online foreign exchange company now allows participating CUs to offer their members foreign exchange.