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From the March-05, 2008 issue of Credit Union Times Magazine • Subscribe!
Quotes Worth Quoting
"When I first joined St. Mary's 15 yrs ago I had the opportunity to see the DesJardins Group home while attending a national credit union roundtable in Quebec and when I got back I asked the board why can't we do something similar and have a credit union museum at our first site? Yes St. Mary's is the first credit union in the U.S. but above all I wanted this museum to be for all credit unions not a showcase for us. Looking at it today, it has been a real pleasure to have been a part of making the Credit Union Museum a reality."
--St. Mary's President/CEO Ron Rioux on setting out to have a Credit Union Museum in the U.S.
"When you consider what these guys [predatory and other sorts of fringe lenders] are trying to do to your members, of course you want to do more. I lay awake at night trying to figure out what we can do to better serve our members and to keep them out of the financial traps that are out there. But of course the problem is resources. Lack of resources is my biggest ongoing frustration."
--Ed Jacob, CEO of the $7 million North Side Community Credit Union on trying to do more to counter the influence of fringe lenders in his community.
"I don't think we have a good sense of urgency on these things. Everyone will agree that there's urgency but we're not as pressed to do something about it."
--Tom Davis president/CEO of NACUSO on industry concerns such as high cost structures, lack of economies of scale, market differentiation and "ineffective" governance structures.
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