The debate over the fate of small credit unions continued on CUinsight’s blog last week with Henry Meier of the Credit Union Association of New York interjecting that “the days of treating your examiner as your de facto compliance officer are over.”
Compliance is the cost of doing business and if you can’t bear those costs, you won’t be in business.
First, Bauer Financial already risk rates credit unions for free. Any member can check it out. Second, slippery slope. Once people start releasing this information, those that don't will be suspect of hiding something.
In this Print Preview from our Feb. 29 issue, credit union people answer this question: "Should CAMEL ratings be disclosed?"
Gregg Stockdale, CEO of 1st Valley Credit Union, has several reasons why it may be dangerous for credit unions to release their CAMEL scores.
Hockey icon Wayne Gretzky had the right strategy when it came to outwitting his opponents on the ice.
Which way to the exits?
Problems at corporate credit unions aren't driving a mass exodus of members seeking other providers.