Listen up, Fergeson

It's been over three hours since I received the May 3 issue of Credit Union Times and the front page article on Ken Fergeson provocatively titled "Unrepentant banker vows to fight credit unions for sake of family, country." Three hours and I am still shaking with rage! I even have the issue opened to page 28 and Mr. Fergeson's photograph so I can direct my anger at his smiling (arrogant?) face. I can only assume Mr. Fergeson is hallucinating when he feels "harassed by credit unions," likens credit unions to "quitters" and states credit unions "should contribute to their community." While my small credit union ($15 million) does not make cash contributions to the United Way or the local symphony, we do make loans to people in our city that no bank would even consider. The resulting contribution to my community could very well be that our willingness to take a risk on a marginal borrower may be the factor in keeping a single mother of two from going on welfare. In fact, my credit union recently did such a loan for a young lady whose total household income was $1,584. When her 12-year old car finally died and she needed transportation to the job that fed her children and paid her rent, she applied for a car loan at a local bank. She was told she did not qualify. When she applied for the loan at a finance company she was told yes with a co-signer and a rate above 20%. My credit union was the only financial institution that would even sit down to talk with her to find a way to get her a small, used car. If Mr. Fergeson wants credit unions to lose "this Don Quixotian battle" I hope his banking buddies will be there for his children or grandchildren when they become young adults. If they ever fall on hard times, those "greedy credit union managers" who want to "feed their own egos and pocketbooks" may just be working for one of those civic minded banks in his community who get lots of press when donating to the symphony, but have no problem telling a desperate young mother NO! Marlene B. Myers President Napa Schools FCU