Most of us would like to get this year behind us, but "CUNA believes that spreading out the cost over time is doing a service to all credit unions, including those that have been hit hard by the economic crisis."
I don't know how they can believe this. It may do a service to the very small minority of credit unions that have issues with capital. This is certainly not all credit unions.
Also, going for TARP funds was not something the majority of credit unions wanted, and yet they fought for them and fortunately lost.
It seems to me we have a big problem in getting CUNA to represent the majority of credit unions. Obviously, there is a bias for the minority of credit unions, and if this continues, the minority of credit unions seem to be well-represented by CUNA. But perhaps the majority of credit unions need another organization or new leadership at CUNA to better represent us.
Dennis A. Fisher
Imperial Credit Union