|Arnold Ramirez, Research and Information Consultant for the California and Nevada Credit Union Leagues|
SHARES: MEMBERS VS. ACCOUNT OWNERS
updated 03/18/13 02:44 PM
R&I Expert Gives the Details
If you ever opened a new member account, you’ve probably had a member ask why they must have a regular share account. You may have said it was a requirement for membership.
As a matter of credit union policy, you may be correct. But when it comes to a regulatory requirement, this isn’t necessarily accurate.
Credit unions have created many ways of setting up accounts and memberships. Some credit unions choose to assign one membership to a single account and house all services provided to that member under the account. Other credit unions allow members to have multiple accounts with multiple services under each account.
Ultimately, the best way to set up memberships and accounts depends on the credit union’s preference, provided they adhere to rules of membership and account ownership.
Click here to read the entire article, Shares: Members vs. Account Owners, in the February/March edition of Credit Union Digest on Page 19.
TEENS GET MONEY MANAGEMENT LESSONS updated
12/10/13 03:29 PM
California CU Hosts Bite of Reality Program
A group of 180 freshmen students from Hoover High School in Glendale got a “bite of reality” on Dec. 4 when they attended an interactive financial education simulation designed to teach them how to manage money. The program was hosted by California CU. It was offered by the Richard Myles Johnson Foundation.
SANTA ANA TEENS TAKE BITE OF REALITY updated
12/10/13 03:23 PM
OC CUs Host Interactive Simulation at Century HS
Some 28 teens recently took a "Bite of Reality" and learned the basics of finances and budgeting at Century High School in Santa Ana.
ANOTHER HEARING AND REG RELIEF BILL updated
12/09/13 04:03 PM
This Time, Congress Treats Differently
The Subcommittee on Financial Institutions and Consumer Credit—part of the House Financial Services Committee—met again on Dec. 4 to review legislation aimed at providing regulatory relief for credit unions and community banks.