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Credit Union Times' Voting Poll: Voters Split About Credit Unions Going on the Offensive with Banks

WEST PALM BEACH, Fla. - Should credit unions give banks a taste of their own medicine and start taking positions on banker issues as banks do with credit unions? Maybe, maybe not. That was the consensus of participants in Credit Union Times' recently expired voting poll. The question read as...

By Staff Writer | Updated on April 29, 2003

WEST PALM BEACH, Fla. – Should credit unions give banks a taste of their own medicine and start taking positions on banker issues as banks do with credit unions? Maybe, maybe not. That was the consensus of participants in Credit Union Times’ recently expired voting poll. The question read as follows: “So far credit unions have stayed out of banker issues, while bankers comment on almost anything affecting credit unions. Should the national credit union trade associations change their strategy, get more offensive minded, and start taking positions on banker issues, including being publicly critical of banks to Congress and others?” And the results are.. * Yes 51.16% * No 41.86% * Not Sure 6.98% 258 total votes The new Credit Union Times’ voting poll question asks whether overdraft protection programs are good or bad for members. Overdraft protection has all of a sudden become a hot product for credit unions, and it’s become a topic of debate. Supporters of the product believe it helps members out who unintentionally write the occasional bad check, while critics say it is encouraging members to live on the financial edge. What do you think? Log on to www.cutimes.com to vote in the poll. The question reads as follows: “Critics of overdraft protection say the service can encourage members to habitually write bad checks. Proponents say it can help members avoid an NSF on top of a creditor’s fee. Do overdraft protection programs promote bad financial management among members or are they a good safeguard against members’ occasional mistake?” *Promote bad financial management among members *Are a good safeguard against members’ occasional mistake *Don’t know

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