Credit Union Management

The $23 million Connection Credit Union in Silverdale, Wash., said it recently used its knowledge management system to make an audit go easier.

To meet the insurance needs of its members, Hanscom Federal Credit Union has opened its own insurance agency.

Having won NCUA approval, the $1.7 billion Chevron Federal Credit Union of Oakland, Calif., said it is merging with the $175 million Spectrum FCU of San Francisco in a deal set for final completion this September following a March 28 member vote.

Consumer backlash against bank fees, coupled with poor service and unmet customer expectations, has fueled increases in defection rates among customers of large, regional and midsize banks, according to the J.D. Power and Associates 2012 U.S. Bank Customer Switching and Acquisition Study.

Work for new and returning clients has been lined up from five credit unions so far in 2012, according to L9.com, a Web design CUSO in Barre, Vt.

IC Federal Credit Union has set its sights on battling big banks by arming locals with the power of the credit union difference.