The Golden One Credit Union President/CEO Terry Halleck said she's not worried about accepting state-issued IOUs even though major banks have said they'll stop cashing them for customers Friday.
Halleck said she believes major banks are "simply posturing with the state to keep their options open," and despite their threats, will continue to accept the warrants to maintain existing customer relationships.
"However, I believe it would be great for credit unions if the banks did not accept the Registered Warrants because that service shortfall and strategic misstep should then cause many bank customers to rethink their banking relationship," Halleck said.
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With credit unions such as The Golden 1 eager to see members through these difficult times on a consistent basis, she said, "a blunder of this magnitude by the large banks could be a true wake-up call for bank customers."
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