This collection of positive 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.
Indiana Credit Unions in the Media
Source: Credit union submissions and Internet news reports. Some stories may require passwords for access.
Credit unions are #1 in a customer service study conducted by Consumer Reports. The results are reflective of consumer opinions over the last three years.
Small business owners are on alert, anticipating a rise in the federal funds rate in mid-September. CUNA senior economist Perc Pineda predicts the rate will rise to .50 next month, "and could be as high as 1.75% by next year." Small businesses are encouraged to put extra cash to good use, negotiate a fixed-reate loan, and repay or refinance high-cost, variable-rate debt in order to prepare for a rate hike.
Sen. Elizabeth Warren (D-MA) submitted an amendment to grant NCUA third-party vendor authority. Nussle submitted comments for the record opposing Senator Warren's proposed amendment and provided reasons why Senate Majority Leader Mitch McConnell (R-KY) and Minority Leader Harry Reid (D-NV) should oppose this amendment as well. "Credit unions are supervised already for due diligence on third-party vendor relationships during their regular examinations, and many of the third parties on which credit unions rely also serves banks and, therefore, are subject to supervision by banking regulators, " explained Nussle.
The month of August means Congressional recess in Washington, D.C. With all 535 members of Congress home for the month, CUNA president/CEO Jim Nussle encourages credit unions to invite their congressional representatives to their branch or schedule a meeting in the congressman's district office to talk about the credit union difference.
