Vitu’s Post

I've been saying it's only a matter of time before Credit Unions really feel the pressure to modify their Overdraft fees. As Joel Schwartz states in this article that time is coming nearer, but there are options out there to help Credit Unions replace this revenue. Message me if you'd like to discuss some of those options. Great article Joel Schwartz!

I recently came across a post from an attorney who wrongly assumed weaknesses of the credit union system by saying you can’t prosecute credit unions using certain bank regulations. And while the statement was mostly correct (with some exceptions - generally, bank regulations don’t apply to credit unions), it’s implied takeaways are hugely flawed. Credit unions aren’t banks. While there is overlap for some regulations and a lot of consistency between the two types of financial institutions - they aren’t the same. You can’t take a bank regulation, say it doesn’t apply to a credit union, and leave the readers assuming credit unions are exempt from any rules and regulations and therefore are unsafe. That’s like saying Ohio roads aren’t bound by Michigan speed limits, and leaving the readers to believe Ohio doesn’t have speed limits. I’ve driven through Ohio. They have speed limits. I’ve examined credit unions. They have rules and regulations. How about this - the regulations for both credit unions and banks are pretty complex and overall help create a framework for a safe and sound financial system. Just my two cents. #creditunions

𝗜𝗡𝗩𝗘𝗦𝗧𝗢𝗥 𝗦𝗣𝗢𝗧𝗟𝗜𝗚𝗛𝗧 Members 1st Federal Credit Union Members 1st Federal Credit Union offers a wide range of products and services to meet all your business needs. With their ACH Origination services, you can rest assured that your money is secure. Learn more about ACH Origination: https://bit.ly/48UoqBS

“The backbone of a credit union is lending. You blow the whole thing if you make too many mistakes here. Think back over the past 80 years of credit union history in America. Consider the outstanding credit unions.  What sets them apart? I believe it is the lending programs. In the long run, the rise or fall of a credit union depends on the loans it makes.”  - Ed Callahan, from the Coaches Playbook. Are you missing out on making good loans because you don't have the right tools (shameless plug for Zest AI) Thanks Chip Filson for bringing us More Wisdom #financialinclusion #peoplehelpingpeople

In today’s discourse surrounding “junk fees,” it’s imperative to separate the sensational misconceptions surrounding overdraft fees at credit unions from the broader narrative... Learn More https://loom.ly/ICS9cWM #inthenews #creditunionnews #cudifference #creditunionsrock #creditunions California and Nevada Credit Union Leagues

When it comes to all the hype on “junk fees,” credit unions stand out as beacons of genuine consumer advocacy by offering financial security and transparent terms with their overdraft programs, providing services that align with the needs and requests of their members. As credit unions continue to prioritize the financial wellbeing of their members, they reinforce their role as true defenders of all consumers in our financial ecosystem.

Every year US credit unions come together at the Governmental Affairs Conference to advocate for financial inclusion and meet with lawmakers impacting the advocacy. We live in an era where embracing of diversity equity, inclusion, belonging and acceptance is still not unified. Our industry needs to be a leader in ensuring EVERYONE has an opportunity to have financial empowerment. Each person has their own story, their own history, their own needs...all of which comprise the tapestry of how their needs are met. As an industry we need to do better by finding ways to say "yes". This may mean that we cant say yes right now but we also provide pathways to get to a yes. There are too many sitting on the sidelines quick to criticize what IS being done instead of being part of the solution. In my opinion this is part of the problem-- doing nothing or "someone else is doing it." My advuce.. actively get involved. If you see something that needs changing at your credit union or in your community, volunteer to be a part of finding the solution. Your action or contribution may just be the missing link to solving the problem. But you wont know if you don't try.

Don’t let the bureaus’ stall letters discourage you! They want you to get frustrated and give up and quit. And they definitely do not want to investigate thousands of letters being sent. Never give up, never give in! Let them know you’re serious about cleaning up your credit reports and boosting your credit score! Keep sending your dispute letters until you get the results you want! Remember, it's your legal right to do so under the protection of federal law (The Fair Credit Reporting Act, or FCRA) so send away! If you don’t know exactly what you’re doing or which items to dispute and how to dispute them, or are nervous or scared about doing it yourself, or would rather have a credit repair professional help you along the way - shoot me a DM and we can work together! #creditrepair #credithero #persistence #takeaction #fightforyourrights #credit #realestate #finance #crediteducation #knowledgeispower #short #shorts #lifeboatsfloat #education #mentor

🌟 Did you know? 🌟 Credit unions go beyond providing top-notch member service. They are also dedicated to empowering you with valuable educational materials and resources to make informed decisions when it comes to your buying and saving choices. Discover more about the credit union difference: https://bit.ly/3NKMyyX.

A SMALL WIN! 🇺🇸 A panel of 5 Judges for the New York State of Appeals Court has just reduced the Trump Organization Bond to 175 million, payable within 10 days and has stayed many of Judge Engoron’s penalties and enforcements until atleast September. The appeals court is reversing some decisions of Judge Engoron for now while under appeal and President Trump and his sons can still run a business in New York and obtain loans from New York financial institutions if they’d like. Constitutional law experts from the very beginning have said this is all outrageous and this appeals action now gives the Trump Organization ample room and time to appeal and they expect to win. The court ordered monitor and compliance person will remain in place until all court proceedings are wrapped up and since the Trump Organization has nothing to hide, they’re quite ok with this. President Trump said recently on Truth Social that he’d “abide by the decision and post either a bond, equivalent securities, or cash” to meet the terms of the judgment. There’s a little sensibility in New York State today and neither Judge Engoron or AG Latisha James can do much if anything at all, besides wait for the Trump Organzation to win on appeal. I guess we’ll know two things by the end of the year, do borrowers or lenders legally determine lending terms and are we losing our country? I prefer to 🇺🇸 MAKE AMERICA GREAT AGAIN 🇺🇸 #trendingnews #trending #newstoday #newsthisweek