Public Wary of Moving Accounts to a CU

OMAHA, NE (from March 23, 2004 CU Times article) In a marketing survey taken last year by local agencies the CU (Mutual 1st Federal Credit Union) found the public remains wary of moving accounts to a CU away from a bank.

But one disturbing conclusion of the survey, said Mark Uden, CEO, "is that 40% of the respondents would definitely not do business with a credit union and the scary part is that the numbers went up for those in the older age bracket." But the survey also found that having the name "federal" provided strength and security, so Mutual 1st TV ads do not mention credit union, said Uden.