Fintech

COLUMBIA, S.C. – Lucky students at the University of South Carolina are looking for “The Garnet Ticket” in the daily campus newspaper, the Daily Gamecock, a 13-week promotion enabling winners to exchange the ticket for $100 in cash from Carolina Collegiate FCU.

NEW YORK – The vast majority of credit unions with a social media program, 94%, say they have a Facebook page, but a growing number are planning a Twitter campaign, according to a new study issued by Financial Brand, an online marketing publication for credit unions and banks.

What was initially dubbed a “Hackathon” actually turned into a game of “Knockout” here, as 100 CU technology execs competed to create innovative tech concepts over a 48-hour period.

There is no single definition of a “mobile wallet.” Each product differs vastly in its choice of technology, audience and the basic type of payment upon which it was built — but most fit into a few simple categories.

Wright-Patt CU believes strong member growth is due to the everyday good work it does, as opposed to the bad practices of banks.

Credit unions added more members–nearly 2.15 million–in the one-year period of June 2011 to June 2012 than they have added in any June-to-June period over the past 13 years.

Joe Kelly, CEO of $36-million S.T.A.R. Community CU, said membership growth is finally slowing down after substantial growth from October 2011 through May of this year.

Spokane Teachers Credit Union has seen its membership hit 110,000 in recent weeks after starting 2012 with 100,000.

San Diego County CU has posted exceptional numbers since Bank Transfer Day, with Executive Vice President ofMarketing and Business Development Nathan Schmidt noting its numbers are roughly three times better than that of the credit union community as a whole.

More members, 7.5% loan growth and a better PFI score than a year ago are all benefits Pennsylvania State Employees CU has seen from Bank Transfer Day.