HOBOKEN, N.J. — As gas prices and economic troubles plague airlines and push credit unions tied to airlines into the news, Credit Union Times looks back four years ago when airline credit unions faced similar issues.
Four years ago, the aftermath of 9/11 was still being felt in the airline industry. At the time, Delta Airlines had announced it would cut of 7,000 jobs over 18 months and US Airways Group Inc. had filed for bankruptcy protection.
Delta Employees Credit Union was reassuring members it had no intention of changing its relationship with Delta Airlines. US Airways Federal Credit Union was still in a good position despite the troubles of its sponsor due to the decision made in the early 1990s to expand its select employee group and merge with smaller credit unions.
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