Committed to Educating the Public About Today's Credit Unions

News and Insights

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Credit Union “Field of Membership” Expands to All who Can Drink Beer

Back in grandpa’s day, credit unions required a “common bond” for membership. That is, members who pooled their money to help those of “small means” needed to share a common employer, hometown, or go ...

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Another Way for Large Credit Unions to Abuse ‘Not-for-Profit’ Status

Large credit unions continue to unabashedly flout the rules for their “not-for-profit” industry, and they’re only getting more brazen by the day. A few recent “highlights”: Ever-expanding so-called “...

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Credit Unions Focus on Own Income Rather than Income Inequality

Credit unions were created in the 1930s with a noble purpose in mind: Pool the resources of people who shared a common bond to help relieve the financial struggles of people of modest means within the...

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The Top Five Reasons Why Congress Should Review Credit Unions

Shop Therapy: A Bank Buying Bonanza Large credit unions have been gobbling up smaller credit unions by the dozen, with 187 acquisitions last year, according to the Wall Street Journal. With fewer t...

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Military Personnel Deserve Financial Choice

We all know the sacrifices made each and every day by our men and women in uniform to defend our freedom. Shouldn’t we, in turn, ensure their freedom to select the best financial services to fit their...

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Three Key Takeaways from the American Banker Podcast, “Bankshot.”

In a recent podcast, American Banker’s John Heltman explored the lax rules governing credit unions that are aggressively growing, increasingly involved in riskier lending, and lacking in transparency ...

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Wall Street Journal: Credit Unions Go On Bank Buying Spree

Lalita Clozel of the Wall Street Journal reports: WASHINGTON—Credit unions are buying small banks in record numbers, a trend that is prompting pushback from the banking industry. Credit unions have a...

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Credit Union Times: Taxi Fallout Tests CUs’ Reputation

David Baumann reports for the Credit Union Times: Credit unions like to paint bankers as greedy – working for their shareholders rather than their customers. Credit union leaders, they have said, are...

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‘Nonprofit’ Maine Credit Union Selling $2 Million Luxury Condo

One credit union here has an unusual item for sale: a $2-million condominium. cPort Credit Union has listed a luxury condo on the top two floors of its newest branch in Portland’s East End. The 2,570-...

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PenFed Acquires Progressive

From Jim DuPlessis at Credit Union Times: PenFed announced Wednesday that it has acquired Progressive Credit Union, a New York City-based credit union that has suffered heavy losses because of its tax...

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