Banknotes Blog

Senate Bill 451: Understanding the Differences Between Credit Unions and Banks

By: Stephen Eager

The Wisconsin State Senate is currently considering a bill to help modernize some language that no longer applies in today’s financial landscape, and therefore causes some administrative hassles for credit unions, specifically. To be clear, we are in support of the majority of the bill. However, there are four provisions that blur the lines between credit unions and banks that we believe should be removed.

Check fraud accounts for more deposit account losses – $1.3 billion in 2018 – than any other payment method, according to the American Bankers Association. Our bank’s Treasury Management team has a few suggestions for businesses to avoid becoming victims of check fraud.

You would never just settle for “good enough” in your personal relationships. Your business banking relationship deserves the same standard of excellence. Let’s review some questions to consider when researching your banking options.

Interest rates have been extraordinarily low for the last 10–20 years, giving a generation of business owners confidence in their ability to repay loans to grow exponentially and operate more efficiently. That may change soon. When making decisions about new equipment, business expansion projects, or modernizing processes, you have several choices.

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