As the price for just about everything is increasing, so are the seemingly endless fees credit unions are charging their members, says Jerry Collins, who argues that these fees burden members and work in opposition of the foundation on which credit unions are built.
Although mandatory financial education courses for high schoolers is growing, it is still only a requirement in a tiny portion of the United States. Chip Filson calls on credit unions to help bridge the gap as states add these courses to their curricula.
Marketing expert Megan Tenbusch reminds credit unions not only of their obligation to support their communities but also of the incentives that come along with it.
David Baumann of the Washington CU Daily reports that the Independent Community Bankers of America and the American Bankers Association have criticized the National Credit Union Administration for a final rule allowing low-income, complex and new credit unions to issue subordinated debt.
As we celebrate this holiday season, Chip Filson reminds us that doing good is very hard, but ultimately worth it. Sustained vision is difficult to maintain, but it’s not impossible and we have an obligation to our founding principles to fight for that vision.
Chip Filson says an often overlooked element of the credit union model is the trust and involvement of regular member-owners in their credit union. By placing more trust in the member-owner, we are strengthening our credit unions, not burdening them.