USA Today Personal Finance columnist Sandra Block said consumers disappointed in savings rates at banks should also consider credit unions, pointing to bankrate.com data showing CUs outpaying banks on some products. Block clarified that most credit unions have federal deposit insurance and explained what the NCUSIF is. The column included quotes from NAFCU CEO Fred Becker and CUNA CEO Dan Mica outlining the advantages of CUs. But Block also listed “drawbacks,” including “you must be a member,” limited services, and limited branch networks.
SAFE Credit Union found itself included In a Sacramento Bee piece headlined, “Mother-Daughter Power Struggle,” about a student branch. At issue was a 17-year-old high girl who was able to open and maintain an account at her high school branch of SAFE and a mother who wanted it to be a joint account.
The piece noted SAFE has three such branches and included insights from other experts about teens and financial independence. “Campus credit unions have been developed to help kids transition to adulthood.
Educators see them as an opportunity to teach valuable job skills, the story said, before adding that the mother of the student involved “sees the campus credit union as an obstacle to her parenting. SAFE noted it had complied with all applicable laws. Also featured in the story was the Golden 1 Credit Union.
A payday lending alternative called “Paycheck Privilege” from Black Hills FCU was featured in the Rapid City Journal. The story explained how the program works and the reasons for its introduction, noting qualification is not based on credit score, debt ratio or discretionary income. The story included quotes from DeeAnn Dietrich, VP- Consumer Loans and Member Services, explaining the program was to help members take control of finances.
