ASHEVILLE, N.C.-The Asheville Citizen Times ran a story about the growth of credit union shared branching, highlighting the ability of members at Premier Federal Credit Union to do basic transactions at any of more than 2,400 other CU locations in 45 states by joining a network. The story failed to identify the network, however, but quoted Rita Willis, Premier's regional branch manager saying, the CU handles about 500 such transactions a month, mostly from vacationers and part-time residents. The story noted that shared branching may be CUs' competitive answer to the banking industry's extensive network of branches across the country, citing the Charlotte-based Bank of America's 5,700 banks and 17,000 ATMs.
YONKERS, N.Y.-Consumer Reports website ConsumerReports.org Personal Finance section has a March feature about the benefits of being a member of a credit union that opens with, "Those in the know have always understood that credit unions offer the best banking deals around. But to get in on them, you have to become a member." The story then briefly details regulatory changes that allow for more open memberships, and notes that switching from a bank "can really pay off," now that CUs have also broadened their product and service menu.
The story also notes how CUs have "irked" banks that continue to lobby for CU taxation, and says that deposits are insured and safe.
"All credit unions are extremely safe," Mike Hales of Counter Intelligence is quoted as saying. "No member has ever lost a penny. The few credit unions that do not offer federal insurance have private insurance instead that usually covers accounts to a higher amount, typically $250,000."
The ABC affiliate in San Francisco, KGO-TV, ran a feature about Northeast Community Federal Credit Union's answer to high-interest payday loans and access to checking accounts for persons with poor credit.
Eau Claire, Wisconsin's WEAU-TV 13 did a piece on the state's credit unions asking members to join the "Chain of Hearts" for the eighth year running to benefit the Children's Miracle Network.
The money donated will be used at Gillette Children's Hospital in St. Paul, or Gunderson Lutheran in La Crosse.
Highlighted in the TV report was WESTconsin Credit Union, which raised nearly $14,000 last year. The credit union's Jay Fahl appeared and stated, "It's a cause that we feel very important and very strongly about, to be able to give to children throughout are area and actually throughout the nation assistance that they need and special medical needs."
