Credit unions share their deposit pricing strategies
As the Federal Reserve Board has increased short-term interest rates over the past three years, many banks and some credit unions lagged in boosting the rates they pay on savings accounts, money market accounts and certificates of deposit. Today, however, the competition for deposits is not just that bank down the street, it comes from online vendors. With more rate hikes are scheduled during the remainder of 2018, how will credit unions respond? Credit Union Journal asked attendees of the recent CUNA CFO Council conference to share their pricing strategy and to discuss who they see as their deposit competitors.