COLORADO SPRINGS, Colo. — While most credit unions are not adjusting pricing in advance of the CARD Act, Keith Kauffeld, VP-operations with the $464-million Air Academy FCU, and member of the CUNA Operations Sales & Service Council, said that may not be the case for those that have sold their portfolios.
The buyer of those portfolios, in some cases banks, "could be raising their rates," Kauffeld noted. "I think an informed consumer may approach a credit union."
Tyler Disburg, chief administrative officer for the $60.8-million Montana First CU in Missoula, and member of the CUNA Marketing & Business Development Council, concurs.
"If it all plays out, it could actually help differentiation," he said. "I think it will be up to credit unions to say they will not be raising their fees because they won't have to. [Credit unions] have to communicate their strengths."
