MADISON, Wis. (10/22/13)--The Credit Union National Association and credit unions last week received media coverage for helping members navigate the government shutdown, serving the Hispanic market and offering great loan rates.
In an article about the government shutdown on CNNMoney, Paul Gentile, CUNA executive vice-president of strategic communications and engagement, described how many credit unions are working with furloughed employees, offering services such as special loan rates, salary equivalent loans and skip-a-payment programs.
In an article on Yahoo Finance, Bill Hampel, CUNA chief economist, said "consumer confidence is likely to take a major hit as a result of the government shutdown, and could slow the economy for the rest of the year.
HispanicBusiness.com cited Gesa CU, Richland, Wash, for being recognized as with CUNA's Excellence in Technology Award for its digital branch initiative.
An article on WRBL News 3 highlighted several Georgia credit unions for their efforts in assisting government employees affected by the shutdown:
Credit unions mentioned include:
The Las Vegas Review Journal cited One Nevada CU, Las Vegas, and America First CU , Riverdale, Utah, for offering short-term, interest-free loans to furloughed government employees.
The Sioux Falls Business Journal featured Sioux Falls, S.D.'s Sioux Empire FCU's Black Saturday loan sale, which included 0.75% annual percentage rates for new or used vehicle loans for the first 50 members. The next 50 qualifying members receive rates at 1.50%, and the next 100 members receive 2.25%.