Article Abstract:
Fifty-six Ohio educators completed a two-day seminar that aims to teach consumer credit concepts. The program, called 'The Educator's Leadership Academy for Consumer Credit,' is designed to eventually educate 7,000 teachers and students in Ohio by 1993. The credit education seminar consisted of three phases. Phase I was composed of an in-depth review of the consumer credit industry. During the sessions, the attendees were asked to participate in hands-on activities and in educational presentations. At the end of the first phase, the participants were tasked to develop Phase II, a series of in-service programs for educators distributed in Ohio. Phase III will be conducted by the participants of Phase I programs. It will involve the holding of local area workshops. This series of educational promotion activities is aimed at pushing the leadership role of Ohio in consumer credit know-how.
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Article Abstract:
Telecredit Inc and Payment Systems for Credit Unions (PSCU) have joined forces to provide credit cards to PSCU members. PSCU consists of more than 700 credit unions, based in Tampa, FL. Telecredit Inc is an electronic payment and authentication service in Los Angeles, CA. This group approach eliminates start-up costs, high monthly usage fees, and the necessity of technical resources. Member credit unions can function as independent card processing institutions instead of agents of a card-issuing bank. The group program generates large revenues based on annual fees, finance charges, interchanges, late charges, and overlimit fees that might otherwise have been paid to a card-issuing institution. The joint effort claims 1.6 million accounts and two million credit cards. An efficiently operated credit union can make a profit at an interest rate of 15% or higher.
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Article Abstract:
Businesses need to take a new look at mature consumers to be able to appreciate the impact of the fact that many of the members of the huge baby-boom generation are starting to turn 50. To understand this consumer group, the financial segmentation approach is used to categorize consumers aged 40 and over according to their attitudes toward a number of financial issues. These include credit, investments, savings, sources of advice and technology. The five financial segments that emerged are the credit- and debt-averse Self-Reliant Savers; the credit-using Strapped Spenders; the Worried Frugals who live from paycheck to paycheck; the Credit Consumers who think that it is a good idea to have many kinds of credit cards; and the Confident Investors who are comfortable with their levels of saving and spending.
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