For Pioneer Federal Credit Union serving members how they want to be served is something to celebrate. The credit union introduced interactive teller machines in 2015 and now operates them at each of its drive-up windows and in the lobby of one branch location. The ITMs are one part of an ongoing effort for the credit union to promote member service that goes “above and beyond.” Another aspect is Pioneer’s stand-alone myPioneer Personal Assistant app, which the credit union launched in January of 2018.
Read: "Happier Hours For Happier Members"
The credit union industry is safe, but it’s not sound. Perhaps the best way to turn that around is by turning the NCUA into a champion of the cooperative financial services movement. The opportunity is there. The regulator’s three-person board could turn over in the coming months, making way for new appointees that beat the drum for credit unions and how they make America great. That would be a radical change from the often adversarial relationship the NCUA has now with the financial institutions it regulates.
Read: "Will NCUA Star Power Help Credit Unions Make America Great Again?"
Vermont's first quarter income growth was in line with national averages. The state adeptly managed credit card usage, reporting above average penetration rates and below average delinquency for that product. Member relationships in the state also were strong, and shares are growing. Despite numbering only 19, credit unions in Vermont turned out an impressive performance.
Read: "State In The Spotlight: Vermont"
First quarter revenue growth for credit unions broke double-digits for the first time since the third quarter of 2007. Credit unions reported revenue growth of 14.2% as of March 31, 2018, and total revenue hit an all-time high of $17.7 billion. This growth comes in second only to the first quarter of 2007, when credit unions reported revenue growth of 14.5%.
Read: "Earnings By The Numbers"
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