If you’re a recent member of Cascade Federal Credit Union in Seattle and the credit union merges, you’ll have a little more money in your account, thanks to a no merger guarantee.
Much fanfare has been made over credit unions’ member growth resurgence over the past 18 months. It’s been wonderful to witness, and with the hard work of the entire credit union community, it can continue in perpetuity.
A lot of sunshine and just a few dark clouds set a pretty good scene for the credit union industry.
Don't pop the bubbly yet over strong financials, consultant says, there could be trouble ahead.
Although there are more than 93 million credit union members, only 40 million use a credit union as their primary financial institution. So is there any way to convince the remaining 53 million members to bank at a credit union for their day-to-day financial needs?
The preview from next week's print edition looks at Arizona Federal Credit Union's decision to charge monthly membership fees.
Every day, six days a week, a credit union closes and never re-opens. That has been going on for many years. More than 3% of credit unions have annually closed for the past decade. By 2025, the United States will have around 4,500 credit unions.
Do the math. Look to your right. Look to your left. One in three credit unions will vanish by 2025. Find out more in this week's preview from next week's print edition.
Over the last few months the Credit Union Times has covered five different credit unions at which CEO embezzlement and fraud occurred. These failures of leadership have left in their wake an abundance of angered and disillusioned members.
No job is harder for a board of directors of a credit union, but no job is more crucial than knowing when to separate the cooperative from a lagging chief executive officer and having the strength to act.