Comments on: US Bank Steals Page From Credit Union Playbook

By: Brett King

Brett King — Fri, 20 Aug 2010 04:32:13 +0000

Great post JP.

By: Christina Blackman

Christina Blackman — Wed, 11 Aug 2010 18:14:04 +0000

Yolo FCU was originally founded by Yolo County Employees although UC Davis was one of our first SEGs added. However, USE and Golden 1 both hosts ATMs on campus and were originally founded for University and or State Employees. I believe both have a decent market share of UCD but what will happen when the US Bank branch opens on campus? Yolo FCU will still continue to market to this segment but never would have guessed that US Bank would be my direct competition.

By: CU Water Cooler » Blog Archive » CU Water Cooler 8/3

CU Water Cooler » Blog Archive » CU Water Cooler 8/3 — Tue, 03 Aug 2010 12:31:43 +0000

[...] • US Bank steals page from credit union playbook [...]

By: Editor

Editor — Mon, 02 Aug 2010 17:31:07 +0000

Historically speaking Christina, wasn’t UC Davis Yolo FCU’s turf? I can’t recall offhand how Yolo FCU got its start, but I thought it had something to do with the staff of UC Davis somehow. Maybe I’m misremembering and it started as an agricultural credit union?

By: Christina Blackman

Christina Blackman — Mon, 02 Aug 2010 16:35:53 +0000

Living in a small university town, I was astounded to hear that UC Davis partnered with US Bank to bring a branch on campus. There are 4 credit union’s locally, two with ATMs right on campus. It’s all about the money. As a mid-size credit union we simply can’t compete with the giving of millions of dollars. I wonder how their customers feel paying higher fees to buy these partnerships? Here’s a link to the article announcing the plans from 2009.

http://news.ucdavis.edu/search/news_detail.lasso?id=9248

By: Editor

Editor — Fri, 30 Jul 2010 19:17:16 +0000

So James, are you saying you preferred the video over the article?

Yes, the video would be a very effective B2B sales tool. Presumably this is what the video is for. It was uploaded by US Bank to their corporate YouTube account.

Oddly, it appears there is zero information about On-Site Banking anywhere on the web — not even a peep at the US Bank website.

By: Editor

Editor — Fri, 30 Jul 2010 18:59:07 +0000

You’re right K.H., credit unions are being replaced on campuses by colleges and universities who can lease space to top bidders. With all the cuts in education, who can blame them? But that only explains colleges and universities. How about all the other companies in other industries — retail, manufacturing, etc.? Are they getting outbid in these situations too? Or outsold by US Bank who may be promising to out-service credit unions?

By: K. H.

K. H. — Fri, 30 Jul 2010 18:25:32 +0000

Ohio State does have a credit union–Credit Union of Ohio. They’re AWESOME, and they’re on campus too. I wouldn’t bank any place else.

The only reason US Bank has a branch on OSU’s campus is because they coughed up a million bucks (probably from TARP funds) to put their branch inside the new student union. Before that, another behemoth bank had their branches in the old student union–I guess they got outbid. Don’t be fooled, people. Big banks aren’t becoming more “credit union-like.” They’re just paying to play. When their branch contract runs out, OSU will give top billing to some other financial institution if US Bank can’t come up with money or simply gets outbid.

By: James Robert Lay

James Robert Lay — Fri, 30 Jul 2010 16:45:05 +0000

My two cents on the video is that it shares the story and experience of the benefits of being a “SEG” brings to the company. Way more interesting to watch and listen than read a web page with 5 paragraphs. This can be used in combination when visiting and calling potential “SEGs”.

By: Bobbie Garner

Bobbie Garner — Fri, 30 Jul 2010 16:25:35 +0000

As a former P&G employee I can tell you that it was a huge benefit to have a US Bank branch in the building. They went out of their way to offer top notch service. I worked in a building with aprox. 5,000 employees.

U.S. Bank branches were not in all locations though (only one that I know of in cinci area) – and P&G also has (had?) a credit union that was located at the global headquarters in downtown cinci.