clint f. Loc: Priest Lake Idaho, Spokane Wa

All Federal charted and most State charted are NCUA insured however some State chartered have private deposit insurance. Scope of membership is much more open in state charters ie; no affinity group requirement like Federal charters although there are limits such as geography. Services are “bank like” in both scenarios but both chartering schemes offer the same consumer services and products. Being smaller than banks the level of member (customer) service and personal interaction are appealing to many people. Most credit unions have embraced technology in areas like home banking, bill pay and remote deposit among others. The co-op nature, one member-one vote, in choosing the volunteer board of directors, is appealing. The fact that Credit Unions are non-profit institutions as opposed to the profit motivated banks is likewise a positive attribute for many consumers.

David Taylor

ATMs are not needed in a cashless society.