Although there are more than 93 million credit union members, only 40 million use a credit union as their primary financial institution. So is there any way to convince the remaining 53 million members to bank at a credit union for their day-to-day financial needs?

The $1.2 billion Arizona Federal Credit Union in Phoenix said it is the first financial services cooperative to try a new but controversial solution to this long-standing industry-wide dilemma: Require all of your members to pay a monthly membership fee.

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Peter Strozniak

Credit Union Times

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