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NAFCU President and CEO Dan Berger indicated to six retail industry
groups Thursday that they have more work to do if they want credit
unions engaged in their inter-industry group working to protect “their
CurrentC continues to make headlines as the stores committed to the new digital wallet app – available in 2015 – are blocking usage of Apple Pay, which so far is accepted by increasing numbers as a safer, more secure payment system than traditional credit cards.
NAFCU urged consumers to check out the value of credit unions in a comment to a New York Times op-ed on the ways consumers are avoiding the high costs of banks.
I remember paydays growing up. My father would go to the credit union and stand in line to get money. As did everyone else. Friction. The ATM reduced that friction.
If you ask credit union members why they prefer their credit unions to their big-bank competitors, they might offer a variety of answers. Maybe their credit union helped them with a loan for their small business, or it offered them a good interest rate for their mortgage. But I would bet that all of them just prefer their credit union to the competition because of the way the credit union staff treats them.
Results of NAFCU's October 2014 Economic & CU Monitor survey show credit unions' concern and focus on data and cybersecurity in order to safeguard their members.
NCUA said a second proposal on risk-based capital – which NAFCU has been pressing for over the past year – could be issued for comment before the end of this year. The amended proposal will include a longer implementation period and revised risk weights for mortgages, investments, member business loans, credit union service organizations and corporate credit unions, among other changes.