Sept. 18, 2006


  • We once partnered with H&R Block but after they refused to stop poaching our members and we found them literally gouging on instant refunds, we severed the relationship. It is hard for me to believe they will have their customers' interest(s) at heart or even in mind. I would counsel that a credit union should deal with them very carefully. their values are not ours.
  • This is a sobering development. For-profit financial institutions are wising up and treating their customers better. I worry that we credit unions are resting too easy thinking that for-profit firms won't ever care as much about the individual as we do--maybe they won't as sincerely, but they can certainly put on a game face and take at least some steps to treating people better. Developments like this can be motivating if we choose to respond by reevaluating and extending our value propositions.