Guest blogger Charles Bruen, CEO of First Entertainment Credit Union, questions the choice of Elizabeth Warren to head up the formation of the Consumer Financial Protection Bureau.
Why would a credit union want to offer little-known, highly specialized accounts that often carry very small balances, could sit on the books for more than a decade, and aren't a real profit center?
On May 20, I posted remarks on BRUEN Credit Union Blog (www.cbruen.com/blog) about the failure of a very small 213-member, $175,000-asset and, surprisingly, 50-year old credit union with a delinquency rate of 40%.
Are any credit unions really "too small to exist?"
Problems at corporate credit unions aren't driving a mass exodus of members seeking other providers.
Corporate credit unions losses aren't driving a mass exodus of members to seek alternatives.
This is my 20th anniversary in the industry as well and it's not lost on me just how little I knew about credit unions that first morning at First Entertainment Credit Union