In coverage of the problems in the subprime mortgage market, the San Jose Mercury News reported that credit unions are not likely to be dragged down by those problems, noting, "credit unions...hold their own pool of cash and don't rely on Wall Street." The story quoted Ken Burns, president and CEO of Technology CU, who explained the credit union's mortgage program and options, including conventional rates on loans up to $620,000.
The South Florida Sun Sentinel provided coverage of the "CU in School" program being proposed for Spanish River High School in Boca Raton, Fla, in conjunction with West Palm Beach-based Gold Coast FCU. The credit union plans to open a branch in the high school cafeteria.
In a story on local financial institutions and the advice they provide, the Harrisburg Patriot-News included Belco Community CU and Pennsylvania State Employees CU, along with PNC Bank. The story focused on helping consumers distinguish between financial "advice" and a financial "sales pitch." The story noted that PSECU has expanded its financial services division from three people to 11, and that members of BCCU can contact a counselor to receive information about budgeting, home buying, and debt management.
