News

A new pilot savings program has fostered the opening of 6,000 new accounts at eight Michigan credit unions in just 18 weeks.

As expected, there were a few wrinkles and some rough patches but not enough to stop REALTORS Federal Credit Union from making its online debut last month.

The $1.2 billion Indiana Members Credit Union of Indianapolis said last week it completed a merger with the $13 million Marsh Employees FCU of nearby Fishers.

A recent Watson Wyatt survey found that more companies are turning to Web 2.0 technologies such as social networking tools, blogs and Webcasts for internal communications and as part of their overall technology mix.

As inquiries climb, the potential for more credit union mergers, both voluntary and supervisory, particularly in the four sand states is due for a big spike through 2010, two consultants agreed last week.

During these economic times when spending money on branches may seem foolish, William Bily, vice president of design at design/build firm DEI, said credit unions need to think long-term and act accordingly.