CO-OP Financial Services Blog: Insight Vault

With the stock market in the doldrums, and a flurry of bank failures and subsequent Federal bank bailouts, increasing numbers of retirement savers are choosing credit unions for their individual retirement accounts (IRAs).

IRA balances at credit unions are up 12 percent over the past year, according to the Credit Union National Association (CUNA). Now totaling $75 billion, IRA accounts have quietly climbed to almost ten percent of all credit union deposits.
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With the current economic environment and recent legislative enactments, credit unions are under increasing pressure to find new sources of revenue and maximize existing sources. Certainly credit card issuing is among the leading potential sources of income. Central to this decision is whether a credit union should select a pass-through (internal) credit card processing solution or a fully outsourced solution.
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