Credit Unions Repricing Accounts MoreQuickly

ARLINGTON, Va. - (11/11/04) Credit unions seem to be moving morequickly to reprice their products and services following changes inrates by the Federal Reserve, according to NAFCU Economist JeffTaylor. “I’ve only been working with credit unions forabout four years, but back when the Fed was dropping rates, creditunions were slow to reprice, particularly their shares,” hetold The Credit Union Journal. “Now they seem to be repricinga little faster than in the past.” It’s important thatcredit unions are nimble when rates move up or down, he said,noting, “you can get behind, and then when it comes time tochange your rates, you have to move them by a bigger chunk, andthat can upset members.”