ajoseph at shefafund.org
12-31-1969, 07:00 PM
And speaking of the WTO, free trade, corporate domination, and
community-based/controlled institutions on our own turf, thought folks might
be interested in the tidbit below.
Looks like your local Wal-Mart may soon be home to your neighborhood credit
union. I wonder about the CDCUs; anybody have any insight? More fuel for
lots of fires, I'm sure. Who'll be the "winner" here at the end of the day?
Speculations?
**************************
>From Credit Union Times...
At Press Time (Basic) "News Brief"
Credit Union Times, December 3, 1999
**** CUNA, affiliates angling for Wal-mart nod
WASHINGTON - CUNA appears to be on the verge of an agreement with mega-
merchandiser Wal-Mart, Inc. to have the Arkansas retailer consider credit
unions as well as banks for branching opportunities in their nationwide
stores. It is an initiative that on October 29 was bolstered by the fact
that DuTrac Community CU of Dubuque, Iowa was among the first to open a
branch at a Wal-Mart store.
"We had no direct involvement in establishing the Du-Trac Community CU
branch," said Rae Miles, CUNA's vice president for business development,
who nevertheless said she is thrilled to see Wal-Mart begin to accept
credit unions.
"Our work has been on a more global basis ... behind the scenes," Miles
said. The Pennsylvania League also has been involved in discussions with
Wal-Mart, she added.
Miles explained that the sticking point in the negotiations between CUNA
and Wal-Mart continues to be the retailer's preference for banks over CUs
as partners, but she added that some progress may soon be made in the
area-a development that may have been spurred by an April 20 letter from
CUNA President Dan Mica to Wal-Mart outlining the advantages of a CU/Wal-
Mart partnership and explaining the FOM-finessing aspects of "shared
branching" agreements.
More details in an upcoming issue of Credit Union Times.Copyright 1999 by
C.U. Times, Inc. http://www.cutimes.com)
This post transferred from the cdb-l mailing list
community-based/controlled institutions on our own turf, thought folks might
be interested in the tidbit below.
Looks like your local Wal-Mart may soon be home to your neighborhood credit
union. I wonder about the CDCUs; anybody have any insight? More fuel for
lots of fires, I'm sure. Who'll be the "winner" here at the end of the day?
Speculations?
**************************
>From Credit Union Times...
At Press Time (Basic) "News Brief"
Credit Union Times, December 3, 1999
**** CUNA, affiliates angling for Wal-mart nod
WASHINGTON - CUNA appears to be on the verge of an agreement with mega-
merchandiser Wal-Mart, Inc. to have the Arkansas retailer consider credit
unions as well as banks for branching opportunities in their nationwide
stores. It is an initiative that on October 29 was bolstered by the fact
that DuTrac Community CU of Dubuque, Iowa was among the first to open a
branch at a Wal-Mart store.
"We had no direct involvement in establishing the Du-Trac Community CU
branch," said Rae Miles, CUNA's vice president for business development,
who nevertheless said she is thrilled to see Wal-Mart begin to accept
credit unions.
"Our work has been on a more global basis ... behind the scenes," Miles
said. The Pennsylvania League also has been involved in discussions with
Wal-Mart, she added.
Miles explained that the sticking point in the negotiations between CUNA
and Wal-Mart continues to be the retailer's preference for banks over CUs
as partners, but she added that some progress may soon be made in the
area-a development that may have been spurred by an April 20 letter from
CUNA President Dan Mica to Wal-Mart outlining the advantages of a CU/Wal-
Mart partnership and explaining the FOM-finessing aspects of "shared
branching" agreements.
More details in an upcoming issue of Credit Union Times.Copyright 1999 by
C.U. Times, Inc. http://www.cutimes.com)
This post transferred from the cdb-l mailing list