Batten Down Your Hatches for the Financiapocalypse [Economy]
The economic meltdown on Wall Street during the past few weeks is going to trickle down to your street, ... you might choose a credit union over a bank. If your cash is scattered here and there in accounts ... to a credit union. In short, credit unions are non-profit organizations which have more stringent [more...]
Date: 2008-10-01 11:00:00
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A new twist on Field of Membership
January 16, 2009 in common bond, credit union values | Tags: credit unions, TARP, Stupid | by Denise Wymore Today the CU Journal reports that “House leaders agreed yesterday to add a provision to the Troubled Asset Relief Program that would allow credit unions to obtain cash [more...]
Date: 2009-01-16 15:51:02
Prevent A CU To Bank Conversion: Playing Not To Lose [Conversion]
By Christian MullinsThere are about 16,000 credit unions and banks in the United States, and that total is currently declining by more than 400 per year. While some banks and credit unions fail, the vast majority are lost through mergers; larger credit unions swallow smaller credit [more...]
Date: 2009-01-13 19:50:21
CUNA: CU TARP language sends strong signal
As House members tussle over the release of the remaining $350 billion in Troubled Asset Relief Program (TARP) funds to the incoming Obama administration, some lawmakers are taking the opportunity to make an important statement about credit unions, noted Ryan Donovan of the Credit Union National Association [more...]
Date: 2009-01-16 11:00:19
Rewards Checking Accounts: Higher Interest Worth The Extra Trouble?
You may have seen some billboards or heard a radio ad around town for a local credit union offering a curiously high interest rate. 5% APY? 6%? ... , or similar. What’s up? Background It would seem that small local banks and credit unions are being squeezed ... BancVue came up with a different solution for all those small banks and credit unions who [more...]
Date: 2008-06-12 09:21:38
Chipping Away at the Stone of the Credit Union
While the news has been doom and gloom about the economy in recent months, and specifically this last 6 weeks, ... is that the Credit Union I have belonged to for over eight years is starting to behave a bit erratically after ... event occurred where for no reason whatsoever the credit union decided to but a "security hold [more...]
Date: 2008-11-11 07:14:41
Headlines, snapshots and misc. stories of interest
Here are recent stories of interest from around the web. Click on the hotlinked headlines to read more ... to bloggers? William Azaroff, Vancity Credit Union’s Director of Online Banking & Engagement, explains ... interaction.” The Credit Union Brand: What Is It Good For? This Filene report is yet another [more...]
Date: 2009-01-16 15:34:41
How To Select The Right Mortgage Lender
Finding the perfect mortgage broker may not be easy, but it is very important. This article discloses tips on how to select a mortgage broker ... . What should I expect at the office? After you have your credit report in good credit repair ... banks, online banks, credit unions, savings and loan associations and specialty bokers. These types [more...]
Date: 2008-12-01 10:27:06
This credit union bulldogs the competition…literally
USA Fed is using a tough-but-loveable bulldog to take aim at “fat cat” bankers. Spike, the $700-milion CU’s new “spokesdog,” encourages non-members to join the credit union and enjoy special offers. In the brand campaign, Spike draws sharp distinctions between credit unions [more...]
Date: 2008-12-17 13:43:36
Loose Change: 1/15/09
houdini_CV_20090115092637.jpg Getty Images Personal Finance: -How to shop for legitimate, nonprofit credit counseling. SecretsForMoney ... -Members of the Pennsylvania State Employees Credit Union will be trailblazers in the free credit-score front. It’s an expansion of the “Scores on Statements” program. WSJ -Along with college [more...]
Date: 2009-01-15 14:30:54
Chrysler shuts down its assembly lines for at least a month, Ford extends idle time
Merry Christmas: Chrysler LLC, awaiting word on a federal bailout, ... to provide financing except to those people who already have really good credit. Consequently, GM ... AM No Credit Crunch at Credit Unions - Auto Loans Available Mike Ellis - Editorial Director [more...]
Date: 2008-12-18 00:57:41
Auto News
Chrysler Says Sales Bank Hasn’t Been Revived Chrysler LLC co-President Jim Press said today that the company is not reviving its controversial ... With Credit Unions Chrysler LLC will announce today that it is following the lead of General Motors Corp. in making credit available to customers in a partnership with a number of credit unions. Ford [more...]
Date: 2008-12-16 20:35:13
I’ve Become a Victim of the Credit Crunch
I already knew the credit card companies considered me a deadbeat, but I didn’t think I was that bad. Sheesh ... Federal Credit Union Platinum Visa Limit: $20,000 Thoughts: Always nice to have a credit union ... Platinum Priority Visa Limit: $50,000 Thoughts: Since this incident, BofA has been on my shyt list [more...]
Date: 2009-01-08 11:12:43
Delinquent Loans Impacting Credit Unions
On July 23, Marketwatch reported: Despite instability in the mortgage-banking arena, ... first-half loss stemming from delinquent auto, credit-card and home-equity loans. The Phoenix-based ... America’s credit unions remain strong and safe for homeowners seeking solutions to their woes [more...]
Date: 2008-07-28 12:57:41
CUWarrior Featured on the CU Soapbox
A funny thing happened this week when sending out a press release about my credit union's Holiday Skip-a-Pay program...Jimmy Marks at Digital Mailer, facilitators for the CU Soapbox, asked if he could feature the story on the blog. Of course I agreed, happy to see this wonderful reminder of credit union magic [more...]
Date: 2009-01-14 23:20:00
FRIDAY, Jan.9, 2009- P. Gamache ("Hooked on Swing" jazzman Larry / Italian beans Dean Martin standard / Dept. store founder pioneered credit unions)
Relative difficulty: Medium-ChallengingTHEME: noneWord of the day: FILENE, Edward Albert(44A: Department store founder who pioneered credit unions) ... and initially came up with nothing. Nothing. Here's how bad things were - my first answer into the grid ... , Double Monarch Score! Today is thus one of the few days where my professional training [more...]
Date: 2009-01-09 12:03:00
Get Ready to Get Fiscally Fit in 2009!
As we approach the end of the first full week of the New Year, ... like you and me. With that in mind, here’s a quick look back at 2008 and what we have done at Tech CU to ensure our credit union is one of the most fiscally fit in the country. The business model of credit unions as compared [more...]
Date: 2009-01-10 02:19:56
For Strong Banks Mortgages Are Good Business - Example Navy Federal Credit Union
2008 saw a huge shakeout in the mortgage industry as those banks that profited off of subprime loans disappeared or merged with ... are making good loans highly profitable. The Navy Federal Credit Union just announced ... Federal’s 75-year history. “Navy Federal never engaged in sub-prime mortgage lending,” said Cutler [more...]
Date: 2009-01-06 14:44:19
It’s Time To Cut Back In California
The Union Tribune reports from California. “ABA Recovery Service owner Marcelle Egley-Sparks said that in the past year, ... During its first 73 years, San Diego Metropolitan Credit Union never lost money on a real estate loan. That ended last year, when it wrote off $527,681 in bad real estate debt. The credit union also took [more...]
Date: 2008-08-24 18:28:13
ChexSystems: Who They Are and How it Affects You
ChexSystems is a company that maintains a subscriber membership service used in the banking industry ... to the same laws as the Credit Bureaus that we are all familiar with: Experian, Equifax, and Trans Union ... . The members consist mainly of Banks, and Credit Unions, but can include other types of Financial [more...]
Date: 2009-01-17 09:00:05
A Reader Says I'm Right
—Ace Andrew Sullivanesque, I know. I'm not posting this to gloat ... with a friend who used to be a professional money manager, and the loan manager at my credit union ... of becoming overleveraged. A frozen credit market means that cash does not move: the ecomony grinds [more...]
Date: 2008-09-27 05:12:33
The Credit Crunch in Devon: the South West Pound and Credit Unions
posted by Cptn If you’re feeling blue about credit, how about some scary facts in video form to upbeat music ( ... advice, bank account support, budgeting support, and access to affordable loans, savings plans ... to and helping people to find an affordable loan. They have also helped people to better manage £2.6 million [more...]
Date: 2008-12-20 17:24:12
Dear Mr. Donovan
January 14, 2009 in TARP, credit union values, taxation | Tags: CUNA, Stupid, TARP | by Denise Wymore I read with much disappointment an article in the CU Journal that you are spearheading another effort to access TARP money for credit unions.Credit Unions cannot, under any [more...]
Date: 2009-01-14 13:14:18
Assessing Your Debt Situation (6)
Different plans have different requirements for borrowing and withdrawing money. Withdrawing money early from a tax-deferred account is expensive ... Out, by Twila Slesnick and John C. Suttle (Nolo). d. Obtain a Home Equity Loan or Credit Line Many banks, savings and loans, credit unions and other lenders offer home equity loans, also called second [more...]
Date: 2009-01-18 05:03:05
MortgageNewsClips: Ira’s Best Must Read, Loan Mods R Ezier, CU Rescue, 33 Act & Lawsuits, Only 4 Homes?, Right & Wrong, Diane Swonk, Chris Whalen, Denying Blame, 5 more
ANOTHER MUST READ - Ira Artman has a thoughtful post on the future of securitization and the revival of ... is foreseen. … - Reuters 2. Regulators preparing rescue of credit unions: report - Federal regulators are preparing a rescue plan to shore up the finances of some large credit unions, using [more...]
Date: 2008-12-11 01:54:43
2008 Butcher’s Bill: 235 CUs Lost In Mergers [Merger]
By Christian MullinsUsing information downloaded from their website, the NCUA has determined that 235 credit unions throughout the United States and Puerto Rico were ... that topic alone for now.I am happy to report that while 235 merged credit unions is a lot, it’ [more...]
Date: 2009-01-07 21:55:09
Vantage CU’s Twitter 2.0 banking breakthrough
Every time you start to think the financial industry’s fixation with Twitter may be easing, something completely new comes along and shakes things up. Like this stunner: TweetMyMoney, a new fully-proprietary innovation from Vantage Credit Union that allows people to access account information and make transfers via Twitter. With the revolutionary new service, members can check their account balances, deposits, withdrawals, holds and cleared checks with simple commands. [more...]
Date: 2009-09-29 11:21:28
If The Administration Does This …..
…. It (”Bank bailout funds could be used for Detroit”) will be One. Final. Giant. Unforgivable. Betrayal. Michelle Malkin: “No Means No ... be illegal. It’s a sign of how bad things have gotten that I still fear that Bush and Paulson may ... , but not limited to, any bank, savings association, credit union, security broker or dealer [more...]
Date: 2008-12-12 14:33:34
CA Lawmakers On The Bailout
There are conflicting reports on a bipartisan deal on the Wall Street bailout, ... and individual constituents rely. The independent community of savings banks and credit unions are safe, sound ... in lower profits, slower growth, and higher credit standards for potential borrowers. For those [more...]
Date: 2008-09-25 20:24:37
How To Choosethe Best Mortgage Companny
Finding the perfect mortgage broker may not be easy, but it is very important. This article discloses tips on how to select a mortgage broker ... banks, online banks, credit unions, savings and loan associations and specialty bokers. These types ... your personal credit history and credit score, the amount of the down payment, and much more. It is hard [more...]
Date: 2008-12-04 05:21:14
More miscellanous roundup--Internet spying, car fraud and more
Over at Slashdot, an item reports that Wikileaks has posted an internal British Telecom report on the secret trials of the extremely controversial ... advertising based on a user's browsing habits."FTC has a new website on telephone fraud ... the credit bureau Trans Union's (TU release) long-running and insolent violation of the Fair Credit [more...]
Date: 2008-06-05 22:00:33
Boom, Bubble and Bust
Tom Durning passes along a New York Times article from October 21 that now seems dated by fast-changing events: ... is not experiencing a bubble, Mr. Pastrick (chief economist for the Credit Union Central) said. Less aggressive mortgage underwriting practices have helped shield Canada from the credit squeeze [more...]
Date: 2008-11-11 00:08:58
Admirable Effort
Admirable Effort Seriously? The tellers at the drive-thru of my credit union keep trying to sell me stuff. Today they wanted to know if I'd thought about refinancing my car, or getting a loan to purchase ... in on an application you can send me out through the tube? And how bad would that hold up the drive [more...]
Date: 2008-09-17 19:59:11
The New Rules
A few weeks ago, I discussed the proposed “Credit Card Bill of Rights” legislation ... Reserve, Office of Thrift Supervision and National Credit Union Administration are set to release an entirely new set of rules this Thursday that the credit card companies must play by. Rule number [more...]
Date: 2008-12-15 23:07:59
Ethical Subprime Lenders
As the financial crisis spread this fall, conservatives attempted to cast blame on the Community Reinvestment Act (CRA), a 1977 fair banking bill ... Credit Union. In California, the news on housing may ... like an advertisement but it’s the truth. We don’t do credit scoring; we do it after the fact in order [more...]
Date: 2008-11-20 18:35:10
Roundup: Ecofriendly Living Is Frugal
David at My Two Dollars posted a great list of twenty-five frugal ways you can reused everyday household items this week ... about how safe credit unions are, looking at some resources you can use to assess the health of your NCUA-insured CU. Can you eliminate $500 of expenses each month? It’s a tall order but I’ve talked [more...]
Date: 2008-08-16 16:50:45
Car too expensive? Bank offers loans for bikes
Plenty of Oregonians take out a loan to buy a car. But what if you spend more time in a bike seat than behind the wheel? ... ? One local bank has an answer. Unitus Community Credit Union recently started issuing bike loans ... she explained. “The Bicycle Transportation Alliance, Sellwood Cycle Repair, Seven Corners Cycles and Sweetpea [more...]
Date: 2008-09-24 19:06:00
Understanding What Happened With Subprime Mortgages
After the steep rise in subprime lending in the 2001-2006 period, followed by the credit crunch of 2007, some might ask, ... went to a local bank or credit union when they bought a house. These institutions would typically require 20% or more as a down payment on the property. They would want a borrower to have good credit [more...]
Date: 2008-12-09 06:00:02
East Coast bias takes solace in P-Bowl attendance
Read and respond: If college football fans on the West Coast and in the Rocky Mountains think that Eastern media centers don’t respect them, ... more people to meaningless postseason games sponsored by auto repair shops and credit unions ... Humanitarian Bowl was 26,781 ... give or take a couple ten thous...Exposed secrets of Utah State [more...]
Date: 2009-01-07 22:50:41
CCI calls for Boycott
by Catholic Citizens of Illinois When the Catholic Bishops of the United States established the Campaign for Human Development in 1970, ... , community-run schools, minority-owned cooperatives and credit unions, capital for industrial ... of the Democrat Party. In a November 4 report in The Washington Time, the U.S. Conference of Catholic Bishops [more...]
Date: 2008-11-23 17:21:11
Why Bother Becoming a Bank?
Last week the Federal Reserve Board gave GMAC, the mostly spun-off financial arm of General Motors, permission to become a bank ... the Troubled Asset Relief Program (TARP). Today the Times reports that GMAC, which loans money to car ... money only if it is a "financial institution," such as "a bank, savings association, credit union [more...]
Date: 2008-12-29 16:47:00
Automobile Loans For Bad Credit In Woodward Oklahoma
by Thulas Sukati Auto loans seem to be the chosen method for many people to buy the car they desire without the need to use savings or any other ... it find out if there is anything that needs to be fixed as a bad credit or any error may affect ... . There are many resources through which you can get auto loans like dealers, credit union, bank, or online [more...]
Date: 2008-09-25 21:41:30
Automobile Loans After Bankruptcy
by Thulas Sukati Although some people have enough money to buy a car from savings, ... to be fixed as a bad credit or any error may affect your rate and you may have to pay more interest ... loans like dealers, credit union, bank, or online lender and it is better to shop around first before [more...]
Date: 2008-09-25 21:14:49
How To Choosethe Right Mortgage Lender
How To Choosethe Right Mortgage Lender Finding the perfect mortgage broker may not be easy, but it is very important ... ? After you have your credit report in good credit repair, you are ready to start shopping ... are there? There are many types of companies in this business, including traditional banks, online banks, credit unions [more...]
Date: 2008-12-02 05:10:21
Dell faced with iPhone Exchange ActiveSync Setup Issues
It is amazing to see how many companies are faced with the dilemma of solving these iPhone Active-Sync Setup issues ... Experts. We can quickly fix your issues and eliminate all of your headaches today with one simple phone ... very large Credit Union in California, Medical Facilities, Banks, the University of Phoenix Cardinal [more...]
Date: 2009-01-17 22:08:23
Thrift: Matt Davis, the CU Warrior
Matt Davis, the CU Warrior, was this year’s vote-in video submission winner, and his talk is on Thrift in today’s world, ... , or Matt Dean’s presentation earlier today. Credit union created a zero percent auto loan, which ... . Imagine how bad off all the people are who are doing the wrong thing by not saving at all. People [more...]
Date: 2008-10-02 16:02:17
How I beat the market
For my first job out of college, I was hired as a fund manager. Sort of ... and community-based banks and S&Ls. Certificates of deposit with community development credit unions ... , I would contact the banks, requesting their latest CRA statement -- the legally required report [more...]
Date: 2008-11-17 00:25:51
5 Ways to Save Money on Your Next Vehicle Loan
by Ada Denis Don’t get stuck with a bad car deal. Here are five ways to walk away from an auto dealership and save money on the vehicle loan. 1 ... . 2. Be Flexible Timing a vehicle purchase is everything. Several auto dealerships establish monthly sales goal ... an application with your personal bank, credit union, finance company, or online auto loan [more...]
Date: 2008-12-18 09:05:34
Website Hacking on the Rise
Think the information on your website is safe because its stored on a MySQL database? Think again ... . In January of 2007, the retail giant revealed that the credit and debit card information of 40 million customers had been stolen. SEFCU, a federal credit union, suffered a similar fate, publishing [more...]
Date: 2008-12-30 10:00:56
When You Vote Republican, This Is What You Get
It's no surprise that Ike victims can't get enough out of their flood and homeowner's insurance to cover their losses ... she says the federal flood insurance program's $79,291.07 offer isn't enough to repair her 41-year-old ... limit," he said.and this:Putman has applied for an SBA loan, borrowed some money from her credit union [more...]
Date: 2008-12-24 20:21:00
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