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In the Media
June 25- July 7, 2014
This collection of news about credit unions and their activities is assembled from a variety of sources on the Internet and from credit union submissions. Note: links used here are external and the League does not control their expiration dates. To share news from your Indiana credit union: send story links to Kay Neidlinger. You can also read more about credit union's community service efforts--and contribute information at the Commitment to Change website
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Indiana Credit Unions in the Media
Source: Credit union submissions and Internet news reports. Some stories may require passwords for access.
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Analisa Warring of REGIONAL FCU has been named as chair of the finance committee.
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Indiana's Newscenter - by Eric Dutkiewicz 21 Alive 7/2/14
This story provides information on the credit unions' merger.
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Warrick Publishing - 7/2/14
Heritage FCU was the title sponsor of the Heritage Federal Credit Union 2014 Historic Newburgh Fireworks and Evening in the Park in Newburgh on July 4.
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Credit Union Times - by Peter Strozniak 6/25/14
Indiana Members CU AVP for sales and marketing Thorpe Miller comments in this story about the credit union's sponsorship of the Indy Eleven professional soccer team.
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National and Wide-Reaching Coverage
Source: Credit Union National Association and other national sources. Some stories may require passwords for access.
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FORBES - by Samantha Sharf 7/3/14
Mike Schenk, vice president of economics and statistics at the Credit Union National Association, said the strong headline numbers show a "bounce back effect." Adding, "The first quarter numbers were not all that encouraging especially in terms of the economic growth numbers. People seemed to be sitting on the sideline in terms of purchasing behavior. Clearly the consumer is back in the market place." Schenk also noted that CUNA's monthly survey of credit unions showed the organizations' loan portfolios increasing by 1.2% last month, the strongest growth since August 2005. "Consumers are engaged. They are not only buying more, but buying big ticket items so a lot of that pent up demand is being expressed."
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FOX Business - by Donna Fuscaldo 7/2/14
"There are different options people can use outside of a traditional mortgage," says Mike Schenk, senior economist of the Credit Union National Association. From borrowing from a family member to considering a rent-to-own agreement, potential buyers don't have to rely solely on a mortgage loan. But Schenk warns to do your homework before making any decisions. "In some cases...the transactions can be complicated and confusing."
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The Hill - by Michael Fryzel 7/2/14
NCUA Board Member Michael Fryzel offered a response to a recent article - here is an excerpt: "Unlike some banks that only want high-rollers as customers and prefer making jumbo loans to wealthy individuals, a credit union welcomes everyone who is eligible to join within its particular field of membership."
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Tulsa World - by Wayne Greene 6/29/14
"Is the (American Bankers Association) suggesting that high-paid, high-profile athletes and others should only be allowed to obtain financial services from banks?" asked CUNA Interim President/CEO Bill Hampel. "Hmm. Not much of an image builder for the banking industry, desperate to rid itself of the rap that it doesn't care much for everyday people." (Password/subscription required).
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Credit Union Times - by Bill Hampel 6/27/14
Interim CUNA President Bill Hampel provided a guest editorial - here is an excerpt: "Our vision for credit unions' future that "Americans choose credit unions as their best financial partner" is aimed to help unite, guide and achieve a shared, strategic agenda - all based on our shared values. At CUNA, our goal is annually returning $20 billion in financial benefits to consumers, and having 55 million Americans select a credit union as their primary financial partner - all by 2023. It will take considerable effort, but I am confident we will get there."
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Credit Union Journal - by Mike Schenk 6/2714
Interim CUNA Chief Economist Mike Schenk provided a guest editorial - here is an excerpt: "Credit unions, on the whole, appear prepared for changing market interest rates and continue to manage their balance sheets in a responsible manner. Throughout modern history in fact, compared to banks, credit unions have held higher capital levels, suffered substantially lower loan losses, and have imposed far fewer losses on their deposit insurer - and NONE on taxpayers."
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Credit Union Journal - by Bill Hampel 6/27/14
Interim CUNA President Bill Hampel provided a guest editorial - here is an excerpt: "Under our rallying cry "Unite for Good," this effort offers all of us the opportunity to connect all of our good work together toward a common vision. Whether it is at a credit union, a league, or CUNA, the vision offers the chance to see how our individual effort fits together in important and strategic ways to expand the movement and have more consumers choose a credit union to be their best financial partner. At CUNA, we are focused intently on the campaign's three objectives - removing barriers, fostering service excellence, and creating awareness. Our goal as the CUNA staff is to present our next CEO with a solid foundation to take credit unions and CUNA to the next level. We're on our way - Full Steam Ahead!"
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