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Mellin Hits at Wal-Mart 'Unbanked' Rationale

Wal-Mart's planned expansion of 1,000 "Money Centers" across the U.S. deserves more than careful scrutiny from credit unions because of its implications on the underbanked, according to the head of the New York State Credit Union League.

By Jim Rubenstein | Updated on July 10, 2007

LATHAM, N.Y. — Wal-Mart’s planned expansion of 1,000 “Money Centers” across the U.S. deserves more than careful scrutiny from credit unions because of its implications on the underbanked, according to the head of the New York State Credit Union League.

“Why would consumers want to cash their checks at Wal-Mart and be charged a fee?” asked William J. Mellin in a President’s Message entitled, “CUs Can Better Serve the ‘Unbanked’” appearing in the trade group’s weekly newsletter.

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