The Colorado Springs Gazette reported on Air Academy FCU's new program to offer members an alternative to payday loans at a "fraction of the interest rate such lenders charge." The newspaper cited AAFCU's Smart Solutions program, which charges an 18% APR on loans made without a credit check or collateral and which must be repaid in 60 days.
Dawn Paquet, check processing and support manager at Synergent, a subsidiary of the Maine league, was featured during a news report by WGME-TV News 13 about the dangers of check fraud. Paquet said that the number of fraudulent checks is increasing because of software that allows people to make checks on their home computers. She said consumers should be aware that if a check is deposited into an account, it doesn't mean it is valid.
The Toledo Blade updated readers on the growth in assets of CUs in northwest Ohio and southeast Michigan, noting combined assets have surpassed $3 billion for the first time, a growth of 150% since 1990, despite the fact that the number of CUs has shrunk to 68 from 98. The report also noted that while a number of sponsor companies have been sold or disappeared, their respective credit unions have gone on and prospered.
The Las Vegas Business Press published an overview of credit unions in the U.S. and Nevada. The story noted that asset growth has been "robust" in the state, although there has been a slowdown in loan demand. The story, which was based on the WestScan report by the California/Nevada Credit Union League, quoted Analyst Terrin Mendivl as observing, "Las Vegas has really been a boon for credit unions."
