It's a vision thing

I read with interest Mike Welch's column regarding NCUA Board member Dennis Dollar's "RegFlex" proposal (CU Times, May 10, 2000). While I understand and appreciate his call for directional support of Mr. Dollar's initiative, from my perspective the current proposal is somewhat wide of "True North." I'm not sure that some of the specifics (e.g., a 9% net capital level) benefit members in terms of a CU's ability to offer "value" loan rates or facilitate growth, and it is not clear what the consequences would be if a CU falls below the flexibility thresholds. Be that as it may, while one can applaud the direction, there is still a long way to go in terms of regulatory synchronization with the intent of the American people as manifested through their elected representatives in support of H.R.1151. We constantly hear cries from NCUA Chairman Norm D'Amours about serving the underserved, predatory lending and payday lenders, yet NCUA's regulatory mechanics appear "geared down" in terms of the SEG application process, rule interpretation, and creative rule application. While Mr. Dollar deserves support in terms of direction, as does Mrs. Wheat in terms of her initiative to identify "low income communities," there still remains a need for further change in NCUA's vision. Credit unionism received a mandate from the American public and, in recognition of that, NCUA should be operating out of an expansive paradigm consistent with that mandate. Whereas NCUA regulations have permitted creation of new SEGs, in reality they have only allowed access to the low-hanging fruit. In no way have they facilitated access up to and including the canopy. Moreover, we in the credit union movement can also be found wanting. Collectively, we need to refocus our vision from that of a scarcity to an abundance mentality. Too many of us see a fixed size pie where a bigger slice for someone else means a smaller portion for us. Too often we fail to see the potential for growth not only in the whole pie, but also in our ability to make more pies. In point of fact, we need both a paradigm shift on the part of our regulators and a mindset change within the credit union community. Only through the synergy released by both changes in perception can we hope to unleash the tremendous potential that lies within the CU movement. Anything less is dabbling at the margins. And we had better get on with it. For the longer we delay, the greater the risk of losing our window of opportunity. Didn't somebody once say, "Time and tide."? Michael G. Clinton Chairman Affinity Federal Credit Union