WASHINGTON-Deposits are growing at Department of Commerce FCU this year, but the CEO does not attribute the inflows to Bank Transfer Day and the anti-bank sentiment.

Instead, Evan Clark says the rise is due to interest rate apathy. "It's rate indifference. Our rate on a six-month certificate is 49 basis points. I think a lot of members are saying, 'Who cares. I'll leave money in my checking or savings and keep the option of being more liquid.'"

Deposits have grown at the $300-million CU by 10% this year and the loan-to-share ratio is 40%. DoCFCU is planning a lending push, signing on with Lender Live to handle its mortgage loans.

"We're teeing up a big mortgage promotion starting next week," said Clark. "We've also lowered our car loan rates. Our best rate is now 2%. We've seen very good car loan volumes. We're putting together a program where we'll do continuous preapproved Visa cards promotions, we've changed and enriched our employee loan sales incentive program, and we've got the best-front line sales staff we've ever had."

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