Credit Unions In The Media

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The Albany Times Union did a story about credit unions seeking state approval to gain access to the multibillion-dollar business of municipal deposits-a move opposed by commercial banks. A bill was offered in 2006 to allow CUs and small savings banks to take municipal deposits, but it was not approved. A different version might be introduced later this year.

The Press Enterprise ran a piece about advice offered to the California CU League by Pepperdine University economics professor David Smith who suggested they spend some of their $6 million advertising budget rallying CU members to industry-related causes. "We recommend there be a call to action with each piece of literature that goes out," said Smith. The story told of efforts by Rep. Ed Royce to reintroduce the CURIA bill.

The news ran with Credit Union 24's growth and performance benchmarks in 2006, marking the signing of 23 new CUs and approaching 200 million transactions, a near 10% increase from the previous monthly milestone set in December 2005. "The network is growing; we're adding members and we're building value for our credit unions," said CU 24 president James Park.

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