Community-Based Expansions More Frequent for Credit Unions
By Andrea Gregory
Kelko Credit Union started by servicing employees of Westvaco, an envelope and paper products company in western Massachusetts. Sixty-five years later, a lot has changed. Now operating under the name Premier Source Credit Union, the Springfield-based institution has 3,800 members and $26 million in assets. Although it is never likely to be a major player in the financial services industry, Bonnie Raymond, chief executive officer of Premier Source, said expansion at some level nevertheless is key to survival of her institution.
Slow Core Deposit Growth Presents Challenge for Banks
By Andrea Gregory
With deposit growth slowing down, several area banks are offering special deals to attract more customers. For Bay State investors, that means the time could be right to shop around.
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