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Credit Union Folks and Fans

Once you go credit union, you never go bank.

This group is for those who work for a credit union or are a member at a credit union. Share your experiences, comments, concerns here.

Credit Unions serve over 90 million people worldwide with a motto of "people helping people". Do you know what makes them so great? Lower rates, non-profit, member owned, dedicated to the community, and more. Sound like your kind of place? It is.

Picture from oboejoe92's flickr.

Network Leader: Kelsey Balcaitis
Groups > Credit Union Folks and Fans
 
Rebecca Thorman I am REALLY excited today because I am officially credit card debt-free! It's all paid off and I'm pretty proud of myself. My next step was going to be to pay off my student loans (which have very low interest rates) or maybe my car (which I think has a 6% interest rate), or instead, re-build my emergency fund and then start donating to my Roth IRA again. What do you all think? Get rid of all debt or save a little first?

81 weeks ago from Personal Finance, Work/Life Blur, I am Gen Y, Credit Union Folks and Fans and Economics and Finance3 more

View 71 older replies

Elizabeth Williams: Congratulations!
81 weeks ago
Rebecca Thorman: Wow, thanks so much everyone! This was awesome to read everyone's replies. I sat down with my spreadsheet, worked the numbers and found that I ...MoreWow, thanks so much everyone! This was awesome to read everyone's replies. I sat down with my spreadsheet, worked the numbers and found that I will be able to max out my Roth IRA, fill my emergency fund back up and pay off my car loan completely by the end of next year - so that's the goal. I'll probably do split payments between savings and car loan as many suggested, and then roll over all to savings. Thanks so much again!
80 weeks ago
 
Kelsey Balcaitis Credit Unions have continued to get a lot of great press out there as a result of the economic climate. What do you love about your credit union? Why would you recommend it to someone?

99 weeks ago from Credit Union Folks and Fans

Rebecca Thorman: Best online banking, friendly people, great customer service. The online banking is my favorite part though. It's easy to do everything online ...MoreBest online banking, friendly people, great customer service. The online banking is my favorite part though. It's easy to do everything online (from create savings accounts to pay bills) and they have a fab interface.
99 weeks ago
 
Rebecca Thorman One of the few daily emails I get and love is Daily Worth which is a personal finance email for women. Today, they brought up women and networking. So I'll ask you - Tell me about the mentoring relationships in your life (or the lack of them). Do you think we as women have an "old girls network" the same way guys enjoy an "old boys network"—or not? Do we need one?

104 weeks ago from Mentors & Mentees, Young Professional Women (YPW), Personal Finance and Credit Union Folks and Fans2 more

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Carmille: Sounds like a good start, Melissa. Would location be an issue in the referrals? I realize it's web-based, but services wise...people may prefer ...MoreSounds like a good start, Melissa. Would location be an issue in the referrals? I realize it's web-based, but services wise...people may prefer someone within proximity, no?
104 weeks ago
Melissa Breau: @Carmille perhaps. but in today's web-centric universe, and since we're based online, I think it'll be a bit more difficult to create ...More@Carmille perhaps. but in today's web-centric universe, and since we're based online, I think it'll be a bit more difficult to create location-based networks via the internet. But you're certainly welcome to post where you're located in that thread if you'd like... I'm in NYC.
103 weeks ago
 
Kelsey Balcaitis To learn more about the political issues that could impact credit unions and their members check out http://www.cuna.org/. Some specific issues to look at include Member Business Lending, which would allow credit unions to lend more money to small business owners, especially those who may have been turned down by banks, also proposed Interchange amendments that would only cost members more money. What are your thoughts?

105 weeks ago from Credit Union Folks and Fans

 
Kelsey Balcaitis Video from CBS Money Watch. "Break Up With Your Bank- Move to a Credit Union". http://moneywatch.bnet.com/economic-news/video/break-up-with-your-bank-j...

108 weeks ago from Credit Union Folks and Fans

 
Rebecca Thorman Saw this and thought of you, Kelsey - Banking on Gen-Y According to a survey performed by Cisco's Internet Business Solutions Group, banks can expect to see long-term revenue gains of up to 10% by engaging Gen-Y consumers in social media. The report found that Gen-Y, while not yet major earners, is very trusting of financial institutions that offer professional financial advice. This broke from the researchers' expectations of low trust levels because of the recent banking troubles.

116 weeks ago from Credit Union Folks and Fans

Rebecca Thorman: Banks that offer advice and online tools will find a very willing base. One third of those surveyed were open to having a completely virtual ...MoreBanks that offer advice and online tools will find a very willing base. One third of those surveyed were open to having a completely virtual relationship with their bank. Another 40% currently use online tools offered by their banks and are four times more likely to post financial questions on blogs and forums.
http://www.americanbanker.com/bulletins/cisco-study-social-media-key-101...
116 weeks ago
Kelsey Balcaitis: Thanks for sharing- this information is very interesting. Sadly though, I believe it. Most Gen Y'ers don't know what a credit union is and most ...MoreThanks for sharing- this information is very interesting. Sadly though, I believe it. Most Gen Y'ers don't know what a credit union is and most credit unions lack the higher tech programs for things like online and mobile banking. It's been a continual struggle for credit unions to attract and retain gen y members. Many think that social media is the golden ticket and ignore online services. This will be key in getting Gen Y in the door. Thanks!
115 weeks ago
 
Kelsey Balcaitis Would you be interested in learning more about the issues that affect credit unions and their members via social media tools like Facebook, Twitter, blogs, etc.? Or would that turn you off?

117 weeks ago from Credit Union Folks and Fans

 
Jung Fitzpatrick Rivermark Credit Union Member, Portland Metro, Or, in the house!

128 weeks ago from Credit Union Folks and Fans

Kelsey Balcaitis: Welcome to the group!
128 weeks ago
Jung Fitzpatrick: This was clever--thanks for sharing!
128 weeks ago
 

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