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Articles Tagged with 'debt'
‘Project Money’ Participants Stage $44,000 Turnaround
April 01, 2014
CU program puts members on solid financial footing.
Courting the Millennials
February 17, 2014
Create an emotional connection with this group.
October 18, 2013
Doing nothing is a choice, but one that often leads to disappointing results.
Student Loan Debt May Slow Home Buying
September 09, 2013
Consumers with student loan debt tend to have lower credit scores than those without.
Get Ready for CFPB’s Ability-To-Repay Rule
September 08, 2013
This final rule expands the ATR requirements to include most closed-end mortgages—with a few exceptions.
August 12, 2013
Rising student loan debt hinders consumers’ ability to take out mortgages.
'Where Did We Park?'
July 22, 2013
Unbridled enthusiasm can preempt us from laying a firm foundation for successful project implementation.
Cut Through the Fog
July 15, 2013
Be a lighthouse to help members navigate to successful financial outcomes.
Report: Older Americans Running Up Credit Card Debt
June 10, 2013
One-fourth of older households have taken on credit card debt to help other family members.
The Return of the Borrower
June 07, 2013
Expect CU loan balances grow 5% to 6% in 2013—and even faster in 2014.
Credit Union Magazine
August 2014 digital edition
To Add Members, Think ‘Bold’ and ‘Local’
Know the Signs of Workplace Fraud
HELOC ‘End of Draw’ Periods Could Create ‘Financial Shock’ for Consumers
CUs Plan Hiring, Pay Increases
Avoid the Compliance Pitfalls of Social Media Advertising
While I thought that the premise of the article was good, I found one point very disturbing. It is that the Visions FCU ages people off their board at age 70. I found that really offensive. It perpetuates what I believe to be the regrettable marginalization of elders in our society, and the often erroneous assumption of debility and decline after a certain chronological age. Lots of folks over 70 are leading dynamic and viable professional lives and contributing to our society. How about Warren Buffet, a number of Supreme Court Justices, Jimmy Carter, the late Nelson Mandela and the late Maya Angelou, to name but a few, along with scads of writers, academics, performers, artists, and often our friends, neighbors and colleagues. If Visions wants new people on their board, it seems as though the term limitations and a nominating committee can accomplish that without aging all people off at age 70. I think that’s so insulting. And if those were paid employment, it would be illegal. I do wish you’d have picked a different credit union to profile---one that perhaps does many of the same things, without the arbitrary age exclusion. There have to be others out there.
David, good point about the "recovering comfortably" comment. That was an editorial addition--which I'll remove.
Many good points but too rosy? Will the "Federal Reserve raise short-term interest rates 1% per year for the next three years, starting in 2015—“probably next year at this time” ? I have heard from other economist that the US government will go bankrupt if that happens due to the QE the fed has done for several years. Also it seems an exaggeration to say “We survived a heart attack,now the economy is recovering comfortably." Comfortably recovering is too ignore the economic stress that many members still live with daily that will eventually affect many credit unions.
Karan, Great article and insight. I would also recommend that you start getting those credit cards into the hands of the youth BEFORE they are in college. One of the best ways to reach this young generation is through mom and dad. Before the student goes to college, get them started with a credit card (even if mom and dad are joint on it). It's never too early to start marketing credit cards. Mark
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