DAYTON, Ohio — Ohio credit unions are starting to reap real financial benefits from banking's woes and the market turmoil as CUs start getting new deposit business, CU officials reported Thursday.
“Look, we know this is coming at the expense of some banks amidst the gloom and doom, but we have a great story to tell,” said William Burke, president/CEO of the $157 million Day Air CU, Kettering, which in the last two weeks has witnessed a $500,000 deposit increase attributed to consumer concern about banks and deposit insurance.
Like CUs across the state and elsewhere, Day Air has joined in league-sponsored campaigns to allay public alarm over safety and soundness but media coverage of banking difficulties has been particularly pronounced over the weekend with a front page story in the Columbus Dispatch headlined, “Is National City Safe?”
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