You can kind of understand the logic behind the hired gunsin Washington, who are charged with advancing their industry'sinterests even when it may be at the expense of the consumer, theenvironment or their competitors. People can rationalize a lot ofbehavior when it comes to earning a living and supporting theirfamilies. But how do you explain an individual like Keith Leggett,the former senior economist for the American Bankers Associationand self-described “leading expert on credit unions and the NCUA”?Keith has to know by now that credit unions actually improve thelives of millions of Americans by providing them access toaffordable financial services in places and markets where hisbeloved bankers wish not to tread. Surly he knows that banks havestumbled as they seek to profit at all costs and sometimes tramplethe best interests of the consumers they were charged with serving.A simple Google search of bank fines and penalties, totaling $150billion to date, should tell the story.

To be fair, Leggett serves to remind all credit union CEOs andboards not to stray from their mission of serving all of ourmembers, and to truly and consistently improve members' lives.

But here's a guy who spends his retirement time attacking theability of consumers to choose a credit union that can make adifference in their lives. Obviously, Mr. Leggett is no expert oncredit unions, consumer well-being or even how to retire in akinder, gentler manner. As former CEO of FDIC Employees FederalCredit Union I can attest that many banking, bank trade associationand regulatory agency professionals do not share his ill-informedand spiteful attitude toward the member-owned financialcooperatives that make a difference in the lives of over 100million U.S. consumers. Taking a poisonous and vindictive mindsetagainst one third of the population into retirement can't be goodfor you. My guess is Keith doesn't really need that either. I'dsuggest fly fishing or yoga.

Marcus Schaefer
President/CEO
Truliant FCU
Winston-Salem, N.C.