Beer Summit Part 3

Back in December, Keith Leggett posted an article on his blog, Credit Union Watch, about non-member business lending. To summarize the post:
The reporter was shocked that credit unions were funding business loans to nonmembers, as this seems to contradict the raison d’etre for credit unions as membership organizations.
He then stated a few statistics from the call [...]

Members in Nevada and California hit hard by economy

As I was neck deep in NCUA reports this week, I noticed a few interesting things about the state of delinquency in CU’s.
Not too surprising, but the state with the credit unions that have been the hardest hit by this recession has been Nevada.  Nevada credit unions, on average, have a reportable DQ (accounts over 60 [...]

Gen Y financial status

According to this recent MSN article, the average Gen Y’er (age 20 to 29) has a median household income of $28,000. and a median net worth of $7,900.
I suddenly don’t feel quite as bad about my "credit union" salary.

ING’s Growth

“Backed up by a locally focused marketing strategy, the company’s approach has been ratified by the market. ING DIRECT’s deposits grew by 39 percent in 2005, 78 percent in 2004, and 74 percent in 2003. Indeed, among a 100-institution peer group, ING DIRECT had the second-highest rate of deposit growth for the five years between [...]

MySpace Age Stats

Only 12% below 18 now? 41% between 35 and 54? Sounds like a credit union age demographic to me.
Click here to read the article from the Associated Press.

what’s your kid doing?

Just what is the average 12-24 year-old supposed to do these days? Who knows, but here’s what a sample of how they spend their time.

Thanks Future Lab.

The changing times

“My grandma belongs to that credit union” is something I frequently hear. CU’s do a great job of serving their current, aging members. But we are going to have to change our focus very soon to providing services to our younger members. To quote Debbie Matz from the Board of the NCUA:
“Members age 18-24, who [...]