PONTE VEDRA BEACH, Fla. — As members concerned about privacy and identity theft shy away from using your credit union's Internet connections, their worries may actually create a marketing opportunity.
Speaking at the Education Credit Union Council annual conference, Remar Sutton of Remar Sutton Associates pointed out lackluster growth in online banking means potential loss of income to financial institutions, including credit unions.
"Your member has lost control of their personal information," he declared. He decried federal legislation that requires "opting out" rather than "opting in," describing it as "the difference between 'lightning' and a 'lightning bug.'"
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