credit unions Archives

Credit unions seek relief from red tape og financial reform


July marked the four-year anniversary of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which was meant to reform and stabilize our financial system. So, has it? “Since the implementation of the Dodd-Frank Act and establishment of Consumer Financial Protection Bureau (CFPB), more than 800 credit unions have closed their doors,” said Dan Berger,… Read More →

Credit unions grow membership, revenue

by in Business News | Finance

Like many other industries, credit unions in Arizona are bouncing back from the economic downturn. Credit unions, which are similar to banks in the products and services that they offer except at a slightly lower cost, are taking advantage of consumer disenchantment with big banks to attract new members. According to a recent National Credit… Read More →

Arizona State Credit Union Expands Chino Valley Branch

Arizona State Credit Union

Arizona State Credit Union will celebrate the expansion of its Chino Valley branch with a grand re-opening on Tuesday, June 26, where Mayor Chris Marley and the city’s Chamber of Commerce will be in attendance. “I am excited to see businesses in Chino Valley expanding,” says Chino Valley Mayor Chris Marley. “When our local businesses… Read More →

Understanding The Function, Purpose, Regulation Of Financial Institutions

financial institutions - bank

The functions and regulations of financial institutions have changed since our most recent recession and will likely continue to be governed at a higher level going forward. This is critical for the success of our future economy. Financial institutions help provide opportunity for our economic growth and improve our living standards. They do this by… Read More →

Credit Unions Could Be A Big Boost To Small Business

Credit Unions Big Boose to Small Business - AZ Business Magazine September/October 2011
by in AZ Business Magazine | Finance

Every week while driving to work I notice an increasing number of empty store fronts. A local restaurant, boutique or consulting firm that was there last week, is no longer there today. It makes me wonder how many of those local small businesses could have survived had they applied and been approved for a small… Read More →

Arizona’s Credit Unions Want To Make Larger Loans To Small Businesses

Make Larger Loans To Small Businesses - AZ Business Magazine Sept/Oct 2010
by in AZ Business Magazine | Featured | Finance

As lending opportunities for small businesses throughout Arizona continue to tighten, legislation has been moving through Congress that would enable Arizona’s credit unions to make more loans to small businesses. The media is filled with reports about how small businesses are having trouble gaining access to affordable credit. Credit unions did not take TARP money… Read More →

The Buzz on AZNow.Biz – September 20, 2010

Arizona Business Magazine's Editor-in-Chief Janet Perez
by in Featured | Video

It’s another exciting week at AZNow.Biz. Arizona’s credit unions are asking Congress to allow them to make more loans to more small businesses. This week also marks the debut of our workforce columnist, Marcia Rhodes, from the recruitment firm WorldatWork. Rhodes asks the question, are you a good boss?  Find all this and more at… Read More →

Arizona’s Credit Unions Are Helping Those Who Depended On Payday Loans

Arizona’s Credit Unions Are Helping - AZ Business Magazune Sept/Oct 2010
by in AZ Business Magazine | Featured | Finance

With Arizona’s payday loan industry now history, the state’s credit unions are jumping into the resulting void to both help consumers and gain new members. Called REAL Solutions, the Arizona Credit Union League & Affiliates’ new program offers an option for consumers who depended on the short-term loans made by the payday loan industry. But… Read More →

Credit Unions Were Well Capitalized Leading Into The Recession

money stack

Arizona credit unions are weathering the rocky economy fairly well, but not without some bumps and bruises along the way. More than 20 of the 55 credit unions in the state have seen their bottom lines slip into the red. Even so, conservative and prudent lending policies that steered them away from the risky subprime… Read More →

Despite Weak Economy, Credit Unions Are Providing Financial Assistance To Small Businesses

Small Businesses getting help in down economy

When talking about credit unions and business loans, the key word is small. The percentage of business loans to credit union assets nationally is about 2 percent; business loans in Arizona average about $240,000, compared to $180,000 nationally. And because the loans are relatively small, the focus is on small businesses. Federal law caps credit… Read More →

Credit Unions Face The Future & Ride Out The Current Economic Storm


Beginning in November, credit unions across the nation will launch a celebration marking 100 years of their not-for-profit, cooperatively owned financial institutions operating in the United States. What may be surprising for some about that 100-year mark is a realization that credit unions have just lately — maybe within the past 20 years or so… Read More →