When Hurricane Michael tore through the Florida Panhandle last month, it left $4.5 billion in damages in its wake. Now, as residents attempt to rebuild their lives, some local credit unions (CUs) are stepping in to offer loans for essential items like food, transportation and...
Credit unions (CUs) might operate as nonprofits, but just like a traditional bank or any other for-profit business, they still need customers — or in this case, members — to thrive. As a result, CUs have invested heavily in retention and outreach efforts in recent weeks, with the purpose...
With a growing number of states giving recreational marijuana the green light, legal marijuana businesses, which typically operate using cash, struggle to access basic banking services. That’s where credit unions are increasingly stepping in, says Tina Sbrega, CEO of GFA Federal Credit Union. In the...
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Credit unions can be easy to overlook and underestimate — individually, they generally don’t have a massive amount of assets, their membership bases are often pretty small and more localized, and on average their rate of credit card penetration among members is pretty small: 15...
When it comes to how consumers think about where their funds are the safest, large banks can benefit from somewhat of a perception gap. The issue isn’t one of actual capability, but of awareness and communication, according to CO-OP Financial Service’s Head of Industry Fraud...
For United Nations staffers stationed far and wide, transmitting funds to family or paying bills cross-border is a common challenge. These scenarios might throw traditional banks for a loop, but they’re among the bread and butter of the United Nations Federal Credit Union (UNFCU). In...
Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily newsletter, PYMNTS Today. By completing this form, you agree to receive marketing communications from PYMNTS and...
Frequent deployments and transfers can leave many military families dependent on a single income source. A lack of financial education can leave them vulnerable to risky products, like costly payday loans. In the latest Credit Union Tracker, Jaspreet Chawla, VP of membership at Navy Federal...
