No Soft Side to Bankers When CUs are the Topic
The article titled "America's Community Bankers Shifts Focus to CU Bank Conversion Regs", in the March 23 issue starts with one major fallacy. The community bankers were not showing their "softer side" as the lead says - they are showing their voracious appetites, because once a credit union converts to "for-profit" status, it gives the bankers every opportunity to buy-out the newly converted bank. Usually the get rich quick minds of the management and boards seeking to convert those credit unions have only one thing in mind-what's in it for them!!! Their interests are not for the interests of the membership who built the credit union since it was formed. Bruce A. Rodela President/CEO Washoe Credit Union Reno, Nev.