article thumbnail

Why Is a Credit Union Better Than a Bank?

Credit Corp

You can open an account with a traditional bank, set up an online bank account , or choose a neighborhood credit union. As you’re reviewing your options, you may see some claims that credit unions are better than banks. Why is a credit union better than a bank for some people? What Is a Credit Union?

article thumbnail

Capital Federal Credit Union opens in Lubbock to serve underserved communities

Collection Industry News

LUBBOCK, Texas (KCBD) – The grand opening for Capital Federal Credit Union is scheduled to happen at 3 p.m. Royce and Linda Lewis, owners of Capital Mortgage Services, saw a problem with many of their employees. So the Lewises and a few others started a credit union. Credit unions create fields of membership.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

What is Shadow Banking? And Why Should You Know About It?

Fico Collections

The report – Americans’ Shadow Financial Lives: The Mobile Apps Banks Don’t Know They Use – found that U.S. financial services customers are increasingly engaged in behaviors and relationships that are deeply meaningful and are not on the radar screens of their incumbent providers. The Emergence of Shadow Financial Lives.

Banks 52
article thumbnail

How to Take Advantage of Low-Interest Loans During the COVID-19 Health Crisis

Credit Corp

The following is a guest post from Dr. David L Tuyo II, president and CEO of University Credit Union. Certainly, there has been and will be even more severe impact across some key industries, but this shouldn’t be a cause for panic, particularly if you aren’t financially tied directly to any of the hardest-hit industries.

Loans 69
article thumbnail

California DFPI Continues To Expand Consumer Protection Efforts During The COVID-19 Pandemic

Collection Industry News

SACRAMENTO – More than a year into the COVID-19 pandemic, the California Department of Financial Protection and Innovation (DFPI) continues to expand efforts to protect consumers from financial impacts of the lethal virus that has ravaged the state’s economy and killed more than 53,000 Californians.

article thumbnail

Troutman Pepper Weekly Consumer Financial Services Newsletter

Troutman Sanders

While many Buy Now, Pay Later borrowers use the product without noticeable indications of financial stress, the report finds that Buy Now, Pay Later borrowers will more likely become active users of other types of credit products like credit cards, personal loans, and student loans.

article thumbnail

Troutman Pepper Weekly Consumer Financial Services Newsletter

Troutman Sanders

While many Buy Now, Pay Later borrowers use the product without noticeable indications of financial stress, the report finds that Buy Now, Pay Later borrowers will more likely become active users of other types of credit products like credit cards, personal loans, and student loans.