Feb. 20, 2006


  • Same old over-hype about CU checking accounts and PFI. I doubt your chart. Other info from NCUA shows about 25% of members have CU checking accounts. PFI -- an old fashioned, 1930s banking model based on expensive tellers and a lot of manual transactions. We need to hear something new. Consider the internet banks. They pay very high rates on savings accounts because they do NOT have tellers. CUs used to be low cost providers of services and pass the savings to the members. Now we have the same high cost as the old fashioned traditiional banks, and our rates are now low to show for it. Again, we need a new business plan. Something other than the out-dated PFI.