Article Abstract:
Professional Financial Services in coordination with Meredith Credit Union of Des Moines, IA, launched a 10-week session financial counseling school to help credit union professionals develop the skills and identify the resources needed to provide better financial management services for cooperative members. The training seminar covered an array of topics from credit legislation to specialized financial counseling. Trainees were given the opportunity to practice financial counseling with one to five client members. Encountered problems and alternative solutions were discussed. Sessions that focused on counseling methods were viewed as more helpful than sessions dealing with specific subject topics. At the end of the seminar, participants were asked to rate the training seminar in general.
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Article Abstract:
Credit unions have a number of advantages over banks as providers of financial services. These organizations are nonprofit cooperatives established to provide members low-cost financing. In addition to cheaper funding, credit unions are better than banks in that they offer higher earnings on deposits, and have fewer and lower fees. Moreover, credit unions consider their customers as family members and treat them accordingly, while banks see their customers as simply customers. They are able to offer their members cheaper credit because of their lower operating expenses. They can achieve greater economies and efficiencies because they have lower overhead costs since they do not incur the expense of large executive salaries, stock options and other luxuries.
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Article Abstract:
Credit unions can improve their services through the use of Web-based, public-access touchscreen technology. As a result, credit unions are no longer limited to home banking and can now offer member services in convenient locations. Aside from increasing their points of presence, unions are able to improve customer loyalty because of the improved service. Credit unions can take advantage of this advanced technology without having to spend significant amounts of money. They can make substantial savings because they are able to avoid having to erect new branches near their members' location. The touchscreen kiosks are secure, which provides comfort to consumers worried about online transactions.
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