Trade Groups Benefit All Credit Unions
I read “The Trades: Near Death Reports Disputed” [page 1] in the March 21 issue and would like to comment.
Larry Kelly, CEO at Apple FCU, was quoted as asking, “Can you tell me one major thing that CUNA has done in the last 12 years?” And Ed Speed, CEO at Texas Dow, was quoted saying, “We don’t miss anything by not belonging to CUNA….the trade associations are in search of a cause.”
In a way they are right, no major passed legislation can be pointed to by CUNA, and many who choose not to belong don’t feel like they are missing anything that would justify paying dues. What these gentlemen and others fail to acknowledge or realize is that in reality all credit unions are members of a league and CUNA, but a few skip out on paying their dues.
All credit unions benefit from the collaborative efforts of leagues and trade associations as we work to prevent or modify legislation that would hurt us and our members. In our case, just the improved revenues resulting from the changes made on debit card legislation justifies what we pay in dues. I wish there was a way to make these freeloader credit unions comply with the laws as originally written, while those of us who pay dues comply with the rules as modified by our trade association’s actions.
I know most of the members of our CUNA Washington team, and they do a fantastic job on our behalf. Building credibility on the Hill and with the administration takes lots of time plus talented and experienced people and that comes with a price tag. I wish we didn’t have to pay what we do, but the alternative leads to our downfall.
Kelly and Speed, what do you think would happen if the percentages were reversed and only 10% paid their dues while the other 90% get a free ride? Think about it.
R. Marshall Boutwell
Gwinnett Federal Credit Union