Well said! I applaud you for taking this stance in the March 17 Editor's Column titled, "Is the NCUA Clueless? Or Is It Seeking to Kill Off the Corporates?"
Unfortunately, saving as many viable credit unions as possible does not make for good relations with congressional oversight committees. I have always been baffled by the NCUA's rush to eliminate threats to the fund at their own peril. As the corporates and natural persons succumb to the impact of this crisis during the months and years to come, the NCUA will find themselves with a fraction of their current credit union numbers, and they too will be absorbed into one of the other federal financial regulatory bodies. And that point will spell the end of the movement as we know it.
The NCUA is responsible in part for this situation. I'm afraid their interest is to avoid blame, and you can't mix that with transparency.
There is safety in numbers, save all you can.
David Skilton
SVP/CFO ?
Altier Credit Union ?
Tempe, Ariz.
