PayThink

An OTS Carol

During the current economic recession, recent studies reported that Americans spent less on gift cards this holiday season. Moreover with companies closing stores or going out of business altogether, there's a sense of "buyer beware" for gift card holders who usually opted for this popular gift.

Credit unions have always been the right financial solution in times of economic and social crisis for common men and women, helping members sustain their income, protect their assets and strengthen their communities. At World Council of Credit Unions (WOCCU), we have seen credit unions provide working people all over the world with a source of economic empowerment and hope, often under uncommon circumstances.

It comes each year and I know you fear, but again I turn to rhyme

The tall, athletic man who served this year as negotiator, visionary and ruthless executor of a tangled government rescue is getting a grand tip of the hat from Time magazine. But he´s still in second place.

It may be the week before Christmas, but there are still plenty of stirrings on the banking scene in Washington, and BankThink suspects that those whom the financial crisis has left sleep-deprived will have to power through a few more days before taking a break.

Credit unions have made great strides in protecting their confidential data from outside intruders, but they also need protection from well-meaning employees who use web mail to send passwords and other confidential information to members.

They say that good news travels fast. But, these days bad news seems to travel even faster: with unemployment and food costs at record highs, along with the crisis atmosphere facing the financial services industry, we are in the midst of tough times.

Say it ain't so!

Credit unions have never been the Ebenezer Scrooge of financial services; indeed, credit unions have been his antidote, organized by the Bob Cratchits of humankind who believe in man's potential for a greater goodness if just given the opportunity.