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Post-presidential debate poll shows a shift in WI; Teamsters won't endorse in presidential race after releasing internal polling showing most members support Trump; IL energy jobs growth is strong but lacks female workers; Pregnant, Black Coloradans twice as likely to die than the overall population.

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The Teamsters choose not to endorse a presidential candidate, county officials in Texas fight back against state moves to limit voter registration efforts, and the FBI investigate suspicious packages sent to elections offices in at least 17 states.

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A USDA report shows a widening gap in rural versus urban health, a North Carolina county remains divided over a LGBTQ library display, and Minnesota Gov. Tim Walz' policies are spotlighted after his elevation to the Democratic presidential ticket.

NC Credit Unions Position Themselves as Banking Alternatives

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Thursday, April 13, 2023   

People who are nervous about where to put their money based on recent bank failures in the news are taking a closer look at credit unions.

There are 63 credit unions in North Carolina with more than 4.5 million members. They provide many of the same basic services as banks, from checking and savings accounts to loans - the biggest difference is who profits.

Brandon Pugh - vice president for public relations with the Carolinas Credit Union League - explained that credit unions are member-owned nonprofits, whereas banks are for-profit institutions owned by shareholders.

He says ownership makes a difference.

"Credit unions are cooperatives," said Pugh. "They're owned by those people who have money on deposit, who have the accounts. Each credit union is acting based on what's best for those depositors - and that means making decisions to protect and provide for those members by avoiding excess risk, rather than pushing to profit stockholders."

He said this allows credit unions to return earnings to members in the form of reduced fees, higher savings interest rates and lower loan rates.

Credit unions also are insured by the National Credit Union Share Insurance Fund. It offers the same level of protection as the Federal Deposit Insurance Corporation (FDIC) - up to $250,000 per account.

Customer expectations for modern financial service firms include technology, like mobile banking apps, and the ability to make payments online. Pugh said in that regard, credit unions are keeping up.

"While some smaller credit unions may not have the same level of technological advancements as large banks," said Pugh, "the majority of credit unions are keeping pace with what members expect in terms of services - in order to have them have similar access and convenience that for-profit institutions provide."

When for-profit companies choose a board of directors, the stockholders 'vote their shares,' which means each share gets one vote, giving larger shareholders more influence.

Pugh said credit unions are different. Regardless of the amount of money any one person has on deposit, they each have the same say in management of the institution.

"At annual meetings, for instance, each member is going to have one vote in who is elected to the volunteer board that directs the activities of the credit union," said Pugh. "So, it's another way cooperatives are different, they're democratically owned."

More information is online at 'mycreditunion.gov.'




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