27
Jun
2006
you might be a bank if…
I just stumbled upon this ABA article about “You Might be a Morphed CU if…”
http://www.aba.com/Industry+Issues/cuarticle011805.htm
Well you might be a bank if:
-you charge your “underserved” members $35 dollars a month for a checking account
-you can’t remember the last time you reversed a fee
-you charge your customers to talk to you on the phone
-you charge your customers to write checks
-you charge your customers for bill pay
-you only offer 3 CD’s
-websites like this pop up about you http://mybankdoesntgetit.com/
feel free to add on because I’m sure I missed some…
I don’t see why being top in SBA loans – or getting involved in business banking in general – makes you a “charter abusing credit union”…
If small businesses are thriving in your CU’s charter area – shouldn’t the CU be involved? Where do mom & pop shops start saving their pennies in order to go into business for themselves?… I hope it is at their Credit Union.
Interesting.