MADISON, Wis. (3/2/16)--The nature of the not-for-profit, member-owned cooperative financial system already carries with it a close relationship between credit union and member, but what happens when a credit union starts leveraging data to serve those members better? The answer, and future of the credit union movement, may lie in a business intelligence unit, which credit unions are increasingly using to serve their members more efficiently than ever.
MADISON, Wis. (2/17/16)--Credit unions have strong ties to education through their history of serving teachers and providing financial education to schools. More recently, credit unions have developed another educational tie: providing classroom grants to teachers and schools.
WASHINGTON (1/20/16)--Concentrations of un- and underbanked consumers exist across America, but few are as geographically isolated as Native American reservations. For many reservations, the lack of a financial institution used to mean no practical alternative other than predatory lenders. Enter credit unions which have arisen to fill those financial needs.
Since News Now launched its CU Effect series one year ago, readers have gotten a firsthand look into the effect member-owned, not-for-profit financial institutions can have on their members, the communities around them and the financial landscape in general.
Student loan debt presents a challenge for the millennial generation. Forty million borrowers owe $1.2 trillion in outstanding student loan debt, with an average balance of $29,000, according to Federal Reserve statistics.
A Los Angeles-based credit union has rolled out an innovative payday loan consolidation product that not only can wrest borrowers from the grasp of predatory lenders, but that also makes financial sense for the credit union.
While credit unions, as part of their mission, are dedicated to reaching out to underserved populations, many credit unions are taking an extra step to ensure Hispanic populations have a safe, trustworthy place to conduct their financial business.