NEW YORK (8/21/13)--Five key areas in which credit unions typically give back to their members were outlined by the Credit Union National Association in a Tuesday Bankrate.com article.
Because credit unions are nonprofit institutions, they give back generous perks to members such as free online classes, college scholarships, discounts on car loans, and even cash dividends, said the article, "5 credit union benefits worth scooping up."
The free service and items are reminders to members that credit unions are mutually owned, Mike Schenk, CUNA vice president of economics and statistics, told Bankrate. To find those perks, members should look in their credit union's membership statement, he added.
Also when looking for a credit union to join, consumers should ask the institution how it rewards its members, Schenk said.
Five areas in which credit unions give back to members are:
To see the article, use the link.
In another media mention for CUNA, Bloomberg BNA picked up a story in which Mary Dunn, CUNA deputy counsel, said a proposed accounting standards update that defines a Public Business Entity will allow credit unions as non-public entities to qualify for more flexible accounting requirements (Aug. 19). The Financial Accounting Standards Board issued the update Aug. 7, with comments due Sept. 20.