Thank you for sharing!

Your article was successfully shared with the contacts you provided.

The creeping economic recovery has pushed credit unions to think more creatively to generate new revenues and efficiencies. A story we posted referring to  Kern Schools Federal Credit Union last year drew an angry comment from a member recently. According to the commenter, he or she was charged $5 for each letter the credit union tried to send regarding an account problem. This grabbed our editors’ attention and, although we couldn’t approve the comment because it contained profanity, when we asked Kern Schools, we discovered that the credit union started a $5 monthly returned mail fee to prod members into updating their contact information with the credit union. Once the credit union receives up-to-date information, the $5 is returned.

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.