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Article: Where Do CUs Go Now?(Credit Unions in America: The Golden Anniversary)
- Article from:
- Credit Union Journal
- Article date:
- January 12, 2009
CopyrightCOPYRIGHT 2009 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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TUSCALOOSA, Ala.-Where do credit unions go from here to ensure that they are relevant for the next century?
Some of that will be answered in the role credit unions have played, both good and bad, in the financial meltdown of 2008. One area in which credit unions have played a role and that only needs more help is financial literacy.
A good portion of the American public is financially illiterate and didn't/doesn't understand what an adjustable rate mortgage was or what negative amortization means. Those interviewed for this report say credit unions have done a better job of teaching financial literacy than most other institutions, but given the size of ...