Long-time bank customer and recent credit union industry employee, David Boden, wonders if his money really is better off with a credit union over a bank and goes on a informational journey to finally learn which is best for him.
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.
The NCUA has announced it will consider the long-dreaded proposals on changing the way credit unions charge late fees and overdrafts, reports David Baumann of CUCollaborate.
The methods behind profit sharing can be a bit of a mystery for members, who typically have no clue as to why they receive the amounts they do. Tyndall FCU decided to remove the mystery and show members exactly how they can earn, resulting in more money going directly into members’ hands.
Whereas some credit unions might see inactive accounts as a fee goldmine, Chip Filson argues that sneakily charging such accounts is potentially against credit unions’ founding principles and should be re-examined.