Welch Nailed the Conversion Issue
Thanks to Mike Welch for highlighting this bank conversion issue in his July 13 column. His comments are spot on. It's a very simple equation - follow the money. Keep ringing that bell - maybe some directors will get the message. I know the same process is occurring in other industries - and it is a shame. Two years ago, WSECU's Board of Directors amended its bylaws to memorialize the board's intention to remain a credit union in perpetuity. This firm stance shows real commitment both to our members and the credit union movement. Thanks for the great piece - nice issue all around. Kevin Foster-Keddie CEO Washington State Employees CU Olympia, Wash.