Consumers Lack Understanding of Real-Time Payments

Misperceptions are steering consumers toward non-bank payment apps, but CUs can win them back, new Javelin research finds.

Getting paid and paying others in real-time is a benefit that consumers want in their lives. But they may not fully understand what real-time payments are, how they work or who actually offers them, according to a new white paper produced by Javelin Strategy & Research and commissioned by the Brookfield, Wis.-based core processor and fintech Fiserv.

That’s keeping credit unions and other financial institutions from reaching their full potential in the real-time payments services space, according to the paper, as consumers’ misperceptions are steering them toward nonbank payment apps such as PayPal’s Venmo and Square’s Cash App.

The white paper, based on a June 2021 survey of 3,711 consumers, revealed that 60% of people do not believe that “real-time payments” are truly instantaneous, mistakenly thinking that “money will not be available for hours or even days, influenced by factors such as bankers’ hours, bank policies, industry limitations, and weekend and holiday delays.”

In addition, 44% of respondents said they believed Venmo and Cash App provided instant access to funds in their bank account when they in fact do not. The capabilities of the Zelle real-time payments network, however, can be integrated into a financial institution’s app and provide instant access to funds in the recipient’s bank account, and only 50% of consumers are aware of Zelle’s advantage.

Notably, among Gen Z respondents, 42% have adopted Cash App, 27% have adopted Venmo and just 13% have adopted Zelle.

The response from credit unions, according to the paper, should be to integrate real-time payment capabilities such as Zelle’s and educate members – especially young members – about how they work. Credit unions have much to gain from embracing real-time payment capabilities, including increased member engagement and stronger member relationships, and a reduced risk of losing member transactions to nonbank payment apps, the report noted.

“By integrating with real-time networks like The Clearing House’s RTP network or tapping into Zelle’s ability to make speedy payments, financial institutions have the opportunity to bolster their appeal to consumers,” the report stated. “They must take these steps to stave off threats from payments platforms like PayPal’s Venmo and Square’s Cash App.”

Convincing consumers of the benefits of real-time payments is not necessary, according to the paper – 75% of respondents of all ages said they feel it’s important to be able to receive funds and access them instantly. That importance appeared to decrease with age, with 90% and 93% of Gen Z and Gen Y respondents agreeing with that statement, respectively, followed by 82% of Gen Xers and 52% of baby boomers.

Javelin and Fiserv listed six recommendations for financial institutions to succeed in the real-time payments area:

• Accelerate investments in real-time money movement;
• Build out real-time payments in bill pay and interbank transfers;
• Improve the consumer experience of using real-time payments;
• Use the speed of real-time payments to strengthen financial fitness tools;
• Refocus marketing to counter misperceptions about real-time payments; and
• Raise awareness of real-time networks like Zelle among Gen Z.

“Offering instant payment capabilities is now table stakes for financial institutions,” Javelin Director of Digital Banking Mark Schwanhausser stated in a news release about the paper. “The opportunity for banks and credit unions to win customers in this space will hinge on their ability to deliver and differentiate their offerings from nonbank apps.”

Natasha Chilingerian
CU TIMES

3 Federal Regulators Issue Statement, Roadmap Related to Future Work With Crypto-Assets

WASHINGTON–Three federal bank regulatory agencies today issued a statement summarizing their interagency "policy sprints" focused on crypto-assets and providing a roadmap of future work related to crypto-assets.

The Federal Reserve, the FDIC and the Office of the Comptroller of the Currency noted that the statement specifically describes the focus of the preliminary work conducted through the sprints undertaken by the agencies.

It also summarizes the agencies' plan to “provide greater clarity throughout 2022 on whether certain crypto-related activities conducted by banking organizations are legally permissible, and related expectations for safety and soundness, consumer protection, and compliance with existing law and regulations,” the agencies said.

“The emerging crypto-asset sector presents potential opportunities and risks to banking organizations, their customers, and the overall financial system,” according to the agencies. “The interagency sprints quickly advanced and built on agencies' combined knowledge, which helped identify and assess key issues related to potential crypto-asset activities conducted by banking organizations.”

The full statement can be found here.

 

Waiting on housing market conditions to change before taking the plunge on a new home?

ARLINGTON, Va.—Waiting on housing market conditions to change before taking the plunge on a new home? You might want to find a comfortable chair in your current abode, according to one analyst, who said the market is likely to remain frothy for some time to come.



Curt Long 

 

Existing home sales rose 0.8% in October to a seasonally adjusted annual rate of 6.34 million units, a 5.8% decrease in sales versus a year ago.

NAFCU's Curt Long noted that sales “marched on in October” following the rise in September.

"Outside of last winter's surge which made up for missed sales following COVID-19's arrival, present sales are at their highest level since 2006," said Long, NAFCU's chief economist and vice president of research. "According to Freddie Mac, the average rate on a 30-year mortgage increased by 17 basis points in October, but that has not made a meaningful dent in sales."

Sales rose in two regions this month. The Midwest saw the largest rise, gaining 4.2% on the month, followed by the South (+0.4%). Sales in the West were flat, and the Northeast region slipped by 2.6%.

Median Price Up Again

The median existing home price increased from $352,800 in September to $353,900 in October (not seasonally adjusted) – representing a 13.1% increase from a year ago.

Based on current sales, there were 2.4 months of supply at the end of October, which matched September. Analysts consider six months of inventory a rough balance between supply and demand.

"It will take a large reduction to demand to impact sales levels and the pace of price appreciation," added Long. "Inventory levels remained near all-time lows in October, but the fact that rental prices are also increasing rapidly reduces the effects of home price growth. There are some promising developments on the construction front, but that will take time to make an impact in the resale market. NAFCU expects housing to continue on its present trajectory for the foreseeable future.”

 

Boston Firefighters’ Winne Announces Retirement Date

DORCHESTER, Mass.–John (Bernie) Winne, president/CEO of Boston Firefighters Credit Union (BFCU), has announced plans to retire effective June 30, 2022.


John (Bernie) Winne

Winne has spent 40 years serving in the credit union industry, with the last 20 as president/CEO of the $394-million BFCU. During his tenure he has overseen asset growth from $75 million, according to the Cooperative CU Association, which first reported the retirement.

Prior to being named to lead Boston Firefighters, Winne served as EVP of Members Plus Credit Union (the former Boston Edison Credit Union).

During his career, Bernie has served as a board member and chairman of the Massachusetts Credit Union League and the Cooperative Credit Union Association, served on several CUNA committees and has participated as a member of the CFPB Credit Union Advisory Council, the CCUA reported.

A ‘Great Leader’

“Bernie has been a great leader not only at BFCU, but in the credit union industry during his entire tenure as CEO,” said Dan Magoon, chairman of BFCU. “He has been a tremendous asset to BFCU during his 20 years and we are thankful for everything he has done.”

Added Ron McLean, president and CEO of the CCUA, “There are few individuals with as much passion for serving and advancing credit unions than Bernie. His leadership has extended to all levels of the credit union system, and we are especially grateful for him being a long-time board member and chair of the Massachusetts Credit Union League and CCUA. Congratulations Bernie and thank you for your impactful leadership to credit unions locally, regionally and across the country."

BFCU said it has retained the services of Smith and Wilkinson to conduct the search for the new CEO.

Michael Moebs - The overdraft market has changed, which means credit unions must adapt

LAKE FOREST, Ill.—The overdraft market has changed, which means credit unions must adapt their OD policies if they expect to keep members—especially young members—using their product, says one economist. 

Michael Moebs, economist and CEO at Moebs Services, pointed to all of the developments within the overdraft market this year—big banks eliminating overdrafts and leading many more institutions to follow suit, including a half-dozen credit unions; a focus by Washington and consumer groups on overdrafts; the effects of COVID-19 on consumer usage of the service, and continuing lawsuits against financial institutions over overdraft practices.

Despite the evolution in the market in the last year especially, Moebs emphasized overdrafts are not going away and that annual OD revenue among all financial institutions should climb back to pre-COVID levels. Moebs outlined what credit unions need to do to stay in the overdraft business, serve their members well, and bolster the bottom lines.

“COVID has changed overdraft policy,” explained Moebs. “From work at home to stay at home the consumer is much more aware of their finances today—and they have a record level of savings. Easy online access to move funds has shown paper checks drop to less than 7% of the total payment system. Grandma bounced but mom swipes. The payment system is rapidly changing as are overdrafts.”

Change is Needed

To attract and retain users of transaction accounts, formerly called checking, overdraft policies and strategies need to change, especially if the credit union wants to build its number of younger members, asserted Moebs.

“At $32 billion in net annual revenue, overdrafts are not going away,” said Moebs. “While some senators and representatives are calling for the demise of overdrafts, financial institutions hold the lever over this political challenge. Indeed, what if all depositories bounce all transactions and eliminate overdrafts entirely? Is the consumer better off? So, what are the elements of an overdraft policy that is accommodating, reasonable, profitable, and fair to all?

“As recovery from COVID happens—and ODs only losing 10% of net overdraft revenue industry-wide during the pandemic—overdraft revenue is fully recoverable in 2022 and more than likely top $40 billion by the start of the next decade,” Moebs continued. “Therefore, a new overdraft policy is necessary.


Michael Moebs

“The elements included in a strong overdraft policy are more than just price and volume of classic microeconomics but also value, competition, compliance, risk, relationship and cost,” Moebs went on to say before outlining the “foundations” of overdraft policy.

The Basic Parameters

Moebs pointed out Moebs $ervices, which has surveyed thousands of financial institutions on overdrafts every year for almost 40 years, has found a sound overdraft policy needs to have at least these basic parameters:

Price: “Price appears as potentially the easiest OD element to do, yet is the most difficult to accomplish,” said Moebs. “ODs started years ago because consumers used multi-day processing of payments with checks to float the time to make payment. ODs started as a penalty for overreaching the time it took for the payment to clear causing an overdraft balance. Now, charges can be settled in minutes not days. Today, an overdraft is an error and not a penalty. Prices for errors need to be less than the price for a penalty. That means dropping your overdraft price below $20.”

Value: “Value equals benefit less cost. It is a benefit to pay for groceries on a Thursday night without enough cash in the transaction account, less a reasonable fee. Thus, value is at the heart of the overdraft transaction,” Moebs explained. “Credit unions must be known as the financial institution that pays the groceries on Thursday after work no matter what. This is the monetary worth that is the credit union movement.”

Competition: “The big competition in overdrafts is Walmart’s $15 OD fee per transaction,” said Moebs. “So, in addition to adjusting price, what about charging only one fee for end-of-day balance? And, about eliminating overdrafts, remember, what do you think of something you get for nothing, or at no cost?”

Compliance: “Compliance for overdrafts is mandatory—for Truth-In-Savings reporting and listing OD price, Reg E for opting into ODs, while Regulation D for tracking withdrawal limits and reserves has been eliminated. Therefore, compliance is simply part of any good overdraft policy,” Moebs explained.

Risk: “Risk of unsecured credit, which is an overdraft, is considered unacceptable by traditional bankers. Yet more than 30% of Americans overdraw their transaction account every year and COVID has made unsecured funding acceptable,” said Moebs. “Ultimately, fintechs could start to target the risk component of overdrafts and reduce OD revenue for depositories. Fintechs started out making loans to businesses. Now fintechs like Chime, Varo, Dave, Money Lion, and others are providing limits of generally $200 with low OD fees. Credit unions need to mirror the transaction account fintechs do and provide larger limits based on a better understanding of the risk component of ODs from many more years of overdraft experience.”

Relationship: “Relationship makes ODs very acceptable since an overdrawn transaction account backed by an auto loan or a home equity loan is very profitable,” said Moebs. “Consider boosting relationships with refund rewards.”

Cost: “With fully absorbed overdraft costs—direct labor, indirect IT processing, and overhead of buildings—puts the cost of overdrafts at about $12.50 for each transaction,” explained Moebs. “Walmart charges $15, thus making $2.50, or 16.6%. This is very fair to provider and palatable for the user.”

Volume: “Volume is often constricted with low limits of $500 based on a no-risk approach to unsecured credit,” said Moebs. “Do your limits cover at least a monthly car or mortgage payment? Volume is key to providing value and is strongly related to price too. You need to set your limits at $1,500 or more to cover unexpectant errors made to cover auto loan and mortgage monthly payments by a member.”

Overdraft & NSF Fees Continue Dropping at CUs

To “support more equitable banking and increase giveback dollars” for members, the Wausau, Wis.-based Connexus Credit Union said it slashed its overdraft and non-sufficient funds (NSF) fees this week by 86%.

In a statement, Connexus said it reduced overdraft and NSF fees from $29.95 to $4 per occurrence and will cap the fees to two per day. The credit union said this decision “is consistent with Connexus’ commitment to investing in their members and prioritizing their financial goals. The reduction makes Connexus’ fee structure one of the most competitive in the nation and was designed to keep more dollars in the pockets of member-owners.”

“Our biggest priority is doing what’s in the best interest of our members,” SVP of Member Experience Claire Meney said. She continued, “And this is an impactful and tangible way to do so. We strive to provide exceptional experiences and foster prosperity for those we serve, and reducing or eliminating fees will enable members to keep and manage more of their own money, especially when they need it most.”

Connexus’ announcement followed a half-dozen other credit unions that have made similar reductions or full elimination of fees in the past few months.

“The most recent reductions are the latest in our long history of member-centric initiatives, including already eliminating or reducing most fees and consistently offering nationally top-tier deposit and loan rates,” Meney said.

The credit union said its fee schedule modifications have saved Connexus member-owners over $500,000 since 2018.

Save The Date

“Traditional member segmentation in financial services is outdated.

MIAMI–A new survey just reinforces what many in credit unions are seeing clearly—75% of global consumers are now more likely to use digital banking in the next few months than before the pandemic.

That’s according to The Financial Tribes You Need to Know report from Mambu, a provider of SaaS could banking solutions.

The report reveals 61% of consumers globally have made greater use of digital banking services over the last 18 months and two in five (41%) have started using digital banking services for the very first time because of the pandemic.




The report, which the company said is the latest in its “Disruption Diaries” series, surveyed 4,500 consumers globally and identifies five emerging financial “tribes'' that credit unions need to know about in a post-pandemic world.

The Key Groups

The key consumer groups, according to Mambu, include:

• Techcelerators. “Recent converts to the world of digital banking who have adopted digital services amid physical branch closures. This group is the largest tribe globally, accounting for a third (33%) of total respondents. More than half (57%) are aged over 35 and this group is most likely to have used online and digital banking services more frequently in the last 18 months,” the company said.
• Ethical Bankers. “Young, purpose-driven savers that want to make a positive impact in the world. This tribe is second largest globally, making up 31% of respondents, and nearly half (49%) are aged between 18 and 34. This group is most likely to pay a premium for financial services that help the environment or local communities and more than three quarters (78%) prefer banks that put purpose over profits.”
• Convenience Cravers. “One-stop shoppers who want all-in-one services at their fingertips, and at no extra cost. This group makes up nearly a quarter (23%) of respondents globally and are predominantly middle-aged or older individuals — with more than half (55%) aged over 35,” the company said. “This group is least likely to pay a premium for services that save time or offer flexibility, expecting a best-in-class customer experience as standard.”
• Covidpreneurs. “Entrepreneurs who have set up their own business during the pandemic, in need of easy-to-use and reliable business banking services. Covidpreneurs are the youngest tribe globally, with almost two thirds (64%) aged under 35 and a quarter (25%) under 25. This group is joint most likely to agree favorable business services are important in a bank and most likely to invest in traditional assets.”
• Neo Asset Hoarders. “New asset owners who want to use financial services to buy, trade and hold assets. This group is the smallest, but a rapidly growing, tribe globally. Two thirds (66%) are male and over half (55%) are under the age of 35. This group is most likely to own neo assets, including cryptocurrency (75%) and NFTs (26%) and most likely to agree the ability to buy, sell or manage neo assets is important in a bank.”

An Outdated Tradition

“Each tribe tells us something significant about the way consumer behavior is adapting and what banks must do to stay ahead of the curve,” said CEO Eugene Danilkis. “Traditional audience segmentation in financial services is outdated. The one-size-fits-all model, in which customers are divided based on how much they earn, or simple demographics, is redundant in a world of open finance and rich data.”

The Financial Tribes You Need to Know report can be found here.

 

CUs Fall Behind Banks In Consumer 'Satisfaction' For 3rd Year In Row

ANN ARBOR, Mich.—In a development that should raise alarms, for the third year in a row the nation’s credit unions have not only again fallen behind banks but hit another “historic low” when it comes to consumer “satisfaction” in one respected national survey.

Credit unions fell 1.3% to a score of 76 on a 100-point scale in the 2021 American Consumer Satisfaction Index (ACSI) conducted by the University of Michigan in conjunction with the American Society for Quality in Milwaukee and CFI Group in Ann Arbor, Mich. The nation’s banks achieved a score of 78, their same score as in 2020.

After seeing their long-time edge over banks sharply erode in 2018, credit unions first fell behind banks on the issue of satisfaction in the ACSI survey in 2019, as reported here. America’s consumers remained less satisfied with credit unions than banks in the 2020 survey findings.

CUToday.info over the past two years has provided extensive coverage of the issue.




Among banks, regional and community institutions still lead the way despite slipping 1.2% to 80. Satisfaction with the national banks is unchanged at 76 in the latest survey, followed by super-regional banks with a steady score of 75.

Perceptions of Credit Unions

Credit unions received their lowest scores in consumer perceptions of numbers and locations of ATMs (68) and branches (68)—with both scores down from 2020 (69, 70, respectively).

CUs were rated highest for courtesy and helpfulness of staff (84), speed of financial transaction in branch (83) and quality of mobile app (82). However, all those scores declined in 2021 over 2020 (86, 85, 83, respectively).

National banks in the 2021 report performed best with quality of their mobile app (84) courtesy and helpfulness of staff (83) and website satisfaction (83).

The mobile app findings are consistent with significant recent reporting in CUToday.info related to how consumers view technology offerings from different types of financial institutions.

“Financial services took a hit in the eyes of consumers last year but managed to weather the storm for the most part,” said David VanAmburg, managing director at the ACSI. “Banks, in particular, are better positioned than most because of the industry’s years of commitment to – and investment in – digital offerings. Whether paying bills, transferring money, or checking your balances, banking has established itself as a super digital-focused enterprise that’s managed to successfully cater to a digitally engaged consumer base.”

Individual Bank Rankings

In the American Customer Satisfaction Index, individual credit unions are not ranked, due to their size, with the ACSI providing a composite score for all credit unions.

Many of the largest banks and brokerage firms, however, are rated individually.

Chase and Citibank remain tied for first place among national banks, both unchanged at 77. Bank of America inched up 1% to 76, while Wells Fargo dipped 1% to 74, marking its fifth straight year in last place, ACSI reported.

Capital One leads super regional banks, climbing 1% to 78. PNC Bank and TD Bank are next in line, both steady at 76. Truist, formed by the merger of BB&T and SunTrust, debuts with an ACSI score of 75, tying both Regions Bank (down 1%) and U.S. Bank (unchanged).

Near the bottom of the category, Citizens Bank (down 1%) and Fifth Third Bank (up 1%) score 74 each. KeyBank sits in last place despite a 1% uptick to 73.

Online Investment Firms

Vanguard topped the online investment industry following a 1% bump to 80. Fidelity also improved 1% to an ACSI score of 79.

Customer satisfaction with the group of smaller online investment firms is unchanged at 77. Among those providers:

• Charles Schwab and Wells Fargo each improved 1% to 80 and 79, respectively, followed by Merrill (Bank of America) and Morgan Stanley, both up 1% to 78.
• In its first year of measurement, Robinhood landed at the bottom of the category with an ACSI score of 71.

How Findings Were Reached

The ACSI Finance Study 2020-2021 is based on interviews with 15,120 customers, chosen at random and contacted via email between October 5, 2020, and September 30, 2021.

 

CUs Need More Time To Address Hundreds of Changes to Call Report, NAFCU Tells NCUA

WASHINGTON—NCUA needs to provide credit unions with more time to evaluate, respond to, and prepare for the significant changes that have been made to the call report, NAFCU President and CEO Dan Berger told the agency in a letter. Berger suggested NCUA postpone the effective date of the call report changes from March 2022 to January 2023.


Dan Berger

"The proposed changes are significant in number and scope and will require additional time for credit unions to ascertain whether these changes are necessary, whether they will have practical utility, and in what ways the NCUA can minimize the burden on credit unions," wrote Berger.

Berger highlighted that the 197-page document cataloguing the proposed call report includes hundreds of new codes, including 614 changes categorized as new or new-replacement and the relocation of 389 account codes.

"Even though NAFCU supports efforts to update the efficiency and effectiveness of the Call Report, the simultaneous imposition of hundreds of additions, subtractions, and rearrangements of data points represents a massive alteration to the process of submitting Call Report data," wrote Berger. "The NCUA should extend the comment period for this proposal and postpone the effective date of the changes to January 2023."

Federal Credit Union Meeting Flexibility in 2022 Due to the COVID-19 Pandemic

Letter to Federal Credit Unions (21-FCU-06)
Federal Credit Union Meeting Flexibility in
2022 Due to the COVID-19 Pandemic

Dear Boards of Directors and Chief Executive Officers:

The COVID-19 pandemic continues to affect federal credit unions and their members. As a result, credit unions continue to need flexibility to ensure the safety of staff and members. Therefore, the NCUA is extending the flexibility for federal credit unions to conduct meetings virtually in 2022. Read the Letter to Federal Credit Unions

 

NCUA - A vote on its “Service Facility” rule proposal is on the agenda

ALEXANDRIA, Va.—A vote on its “Service Facility” rule proposal is on the agenda when the NCUA board meets this week.



At the time it was proposed during its December 2020 meeting, the proposal called for allowing CUs to include any shared branch, shared ATM, or shared electronic facility in the definition of “service facility” for a multiple common-bond federal credit union that participates in a shared branching network.

At the heart of the issue is the concept of “reasonable proximity,” in which NCUA has traditionally required a credit union to have a physical facility within 25 miles of an underserved market to make it eligible for its field of membership.

The NCUA board has been divided on the issue. At the time it was proposed, then NCUA board member and now Chairman Todd Harper said, “Construing reasonable proximity to include internet access could render the Federal Credit Union Act requirement a near nullity.”

But during the NACUSO Network meeting last week, NCUA Board Member Rodney Hood said he expects the board will pass the proposal and may do so unanimously. Hood was joined by former NCUA Chairman Dennis Dollar during the discussion, with Dollar calling the concept of a 25-mile, bricks-and-mortar requirement obsolete in a digital age. Hood’s expanded comments on why he believes it’s necessary and will pass can be found here.

Also on Agenda

Other issues on the Thursday meeting agenda will include:

• A briefing on modernized examination tools and the agency’s COVID-19 response
• A board briefing on the share insurance fund quarterly report
• A briefing on NCUA’s 2022-2026 Strategic Plan

The meeting will be streamed live on NCUA.gov starting 10 a.m. ET.

Report on inflation to force the Fed to move more quickly than it would like on raising rates.

ARLINGTON, Va.—Add NAFCU’s chief economist to those who expect last week’s report on inflation to force the Fed to move more quickly than it would like on raising rates.

Curt Long

The most recent numbers show inflation in the U.S. hit its highest point in more than 30 years, according to data released by the Labor Department today.

On a seasonally-adjusted basis, overall consumer prices rose 0.9% in October, with the Bureau of Labor Statistics reporting the overall consumer price index (CPI) grew 6.2% over the 12-month period.

NAFCU Chief Economist and Vice President of Research Curt Long noted that most of the inflation was largely driven by energy prices.

"After three months of more moderate price growth, the October figure matches June for the highest inflation print of the year," said Long.

Energy prices rose 4.8% during the month, following a 1.3% increase in September. From a year ago, energy prices were up 30%. Additionally, food prices climbed 0.9% in October and are up 5.3% compared to this time last year.

Fed Action

"Markets reacted to the news immediately with a bounce in short-term yields as markets anticipate Fed action in the first half of 2022,” Long added.

"The Fed will want to wait longer than that, but inflation must settle at a more comfortable level quickly,” concluded Long. “If price growth continues at its current pace, the calls for action will be too loud to ignore.”

Core prices (excluding food and energy costs) rose 0.6% compared to September. Year-over-year core CPI growth was 4.6%.

Have You Lost that Loving Feeling?

Credit unions were founded on the righteous principle of “People Helping People”. For example, a plant worker’s car was wrecked and he needed a car to get to work. So, co-workers formed a credit union, pooled their savings and a loan was made for the car. This People Helping People mission has been part of the credit union psyche from day one. After all, there’s no one else in the financial services space that’s member-owned, has deep roots with a People Helping People mission, and is even recognized with tax advantages based on this altruistic foundation.

But it seems as though many credit unions have lost sight of that “People Helping People” philosophy and are acting more like all the other financial institutions (FIs).

It brings to mind the 1960’s Righteous Brothers classic “You’ve Lost that Loving Feeling.” As the lyrics implore, it’s time to “Bring back that lovin’ feelin’ Whoa, that lovin’ feelin’ Bring back that lovin’ feelin’ ‘Cause it’s gone, gone, gone And I can’t go on, whoa…”

Credit Unions, your People Helping People mission is your ace in the hole. It’s what sets you apart and engenders such loyalty, so let’s bring back that lovin’ feelin’!

So how do credit unions bring back that lovin’ feelin’? It’s actually pretty simple with a little disciplined and concerted effort. First, make sure “improving the financial well-being of members” Read MORE

Ed Bourgeois
Auto Link & myEZ Car Care, LLC
LA Credit Union Center
824 Elmwood Park Blvd, Suite 225
Harahan, LA 70123
BookMoreAutoLoans.com
ebourg@AutoLink.io
504-273-0337