Oct. 2, 2006


  • In the New York City market, Emigrant Savings has raised over $7 Billion in on-line savings. I think as a competitior, we are behind, do not know if we can catch up. Bob Edmondson, IBM Metro
    Bob Edmondson
  • Is there a way for credit unions to work together on this rather than replicating the effort and resources to develop products individually? My sense is that some credit unions are reluctant to commit time and resources until it is clear that online high-yield savings accounts are not just a fad driven by current interest rate dynamics. A collaborative approach, perhaps segmented by DP firm, could spread risk and potentially avert CUs being left out of the market entirely while ING and Emigrant and HSBC sew up the smart money.
  • With deposit pressures facing many credit unions - this looks like an option. Not sure how the FOM would work for or against this type of set up for the mid to small multiple group credit unions. Definitely food for thought.
    Nancy Wasczenski- PARDA FCU