One thing that has surprised me over the years is the popularity of short-term CDs. Several of my friends and colleagues would never consider CDs with maturities over one year. The 6-month term was often the most popular. It appears my friends weren't unusual. I reviewed call report data from the NCUA for two large credit unions, and the data shows more deposits in short-term CDs than long-term CDs. Read More ;Value of Short-Term Certificates of Deposit?
When the government shutdown hit in October and paychecks stopped, thousands of federal employees were left wondering how to make ends meet. Credit unions across the country stepped up—but Keesler Federal Credit Union went above and beyond. No loans, no hassle—just your paycheck Instead of making members apply for emergency loans, Keesler Federal launched its Paycheck Relief Program. Revolutionary in its simplicity, it worked like this: if you were a federal employee with direct deposit at Keesler Federal, your paycheck kept coming—interest-free, fee-free, and stress-free. Each qualified member could receive up to $6,000 per pay period for as long as 90 days. No hoops, no headaches. From October 1 until the shutdown ended, Keesler Federal advanced more than 5,000 paychecks totaling $6.5 million to 1,710 members. For non-members, they even offered zero-interest loans up to $6,500 with a year to pay it back. This proactive approach meant that before the first missed paycheck, Keesler Fed...
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