Thursday, June 13, 2013

Watch and Learn

Quick: Name a loan provider that had low to no foreclosures in local communities across the US during the economic crisis?

Answer: Credit Unions !
Watch this month’s show “Voices of Somerville: Credit Unions”   Host Sonja Darai talks with CEO Rui Domingos of the community-based CPCU Credit Union on the City’s cable channels 15 and 22 to learn more. Can't wait? Watch the show at
Credit Unions
Credit Unions are member-owned and operated cooperative financial institutions which serve a select “member group” or community for the purpose of saving and lending to each other.
This means we have places that you can put your money in then your neighbor or local business owner borrows and pays back to the pool. You benefit from this with improvements to the lives of your neighbors, local business, and your own financial strength.

Want more links to credit union info?
CBS Sunday Morning Show: episode on credit unions (watch again 6/16 !)
  •  Watch one family’s own credit union story along with how credit unions are beneficial to local communities across the US. 
 Massachusetts Credit Union League
  • Details of the credit unions in Massachusetts
 New Hampshire Credit Union League
  • A CBS Sunday Morning highlights credit unions and America’s Credit Union Museum
 Credit Unions Wikipedia
  • All you ever wanted to know about credit unions in a nutshell.
Banks Anticipate New Mass. Foreclosure Law (excerpt from article)
Meanwhile, Mary Ann Clancy, senior vice president of the Massachusetts Credit Union League, which represents credit unions in the state, was careful to say her organization didn't oppose new foreclosure regulations. But she said members would have preferred a different version of the bill.
Clancy said credit unions tend to have lower foreclosure rates than banks, and the extra administration associated with the new law will slow down services, and increase costs to credit union members.
 Credit Union's Tax Status at Risk
  •  The tax status of credit unions may be at stake. Congress is debating on taxing CUs along with other organizations.
  • You can read more about this at

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