News

COLUMBIA, S.C. - Sixteen percent of online consumers cited a credit union as their primary financial provider, up sharply from 9% in 2001, according to a recent survey by Forrester Research. "With superior service, higher deposit rates and lower fees, credit unions are gaining as the preferred financial provider among...

Will the economic downturn hurt CU portfolio sales? Is there a new ATM fraud looming? Will debit cards become more popular than credit cards? For those answers and more turn to pages 18-20.

ARLINGTON, Va. - The Electronic Funds Transfer Association (EFTA) hosted a meeting in Washington on July 24 designed to establish an industry-wide task force aimed at confronting what the association and U.S. Secret Service said could be a rising ATM fraud problem. Kurt Helwig, executive director of the Electronic Funds...

ARLINGTON, Va. - Credit union card marketing efforts are going to have to be more intelligent, more segmented and carry more bonuses in the future as more credit union members roll their credit card balances into refinanced mortgages and face a sharply lowered stock market and uncertain economic times, according...

ARLINGTON, Va. - Neither regulators' increased interest in the quality of credit card accounts, nor the economic downturn in the prices of many major portfolio buyers, like MBNA, is likely to have much of an impact on the value of credit unions card portfolios, according to two players in the...

ARLINGTON, Va. - Consumer education and acceptance, combined with acceptance by the credit unions themselves, are the biggest obstacles to what will continue to be a likely steady rise in debit card popularity and usage, according to officials with credit union based card service organizations. "A lot of my job...

Credit unions will now be required to do more in terms of identifying and verifying members upon opening new accounts. See story page 6.

Mortgage lending is not only making headlines with credit unions - first mortgages for the leading CU lenders were up 26% the first quarter 2002 from 2001 - Capitol Hill is seeing a flurry of activity as well. Catch up on the news on pages 18-20.