X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Coverage in Credit Union Times of recent comments made by various individuals about the CUNA Renaissance Commission and its recommendations prompts me to share my views (especially story entitled “McDonnell blasts some Renaissance recommendations,” CU Times, Aug. 22). The commission’s efforts seem to have been comprehensive, inclusive, deliberate, and thoughtful. How can credit unions expect to move forward through a process that is any less than that carved out by the Renaissance Commission? How can credit unions even define their own future unless they hold a thoughtful discussion about what it is they want to be? I suppose there are some that would have credit unions sit still and do nothing about planning for the new century before them. This inaction would be justified out of a concern of sending the wrong signals to Congress or the public, or raising the ire of bankers (in that bankers would have “added weapons against credit unions,” to coin a phrase). Anybody that buys either justification has his or her head in the sand. Let me provide an example: Recently, at a conference, I had a discussion with the incoming president of the Independent Community Bankers of America (ICBA), a bankers’ trade group that has been particularly vocal in its criticism of credit unions. I felt we could have a reasonable discussion about issues facing our respective institutions, without slipping into the “bank vs. credit union” thing. How wrong I was, the conversation (unfortunately) quickly deteriorated into his accusations about how “credit unions were meant to serve only people of modest means.” I need not continue nor detail the rest of the conversation-it was the same, tired story that bankers and their trade associations drag out every time they talk about credit unions. My point: Whether or not the CUNA Renaissance Commission is recommending change for the better future of credit unions, bankers will always look for “weapons” to use against credit unions, regardless of what we do. Our forefathers brought the concept of credit unions with them to this country, where it flourished in an atmosphere of freedom and self-determination. I absolutely agree that credit unions must remain true to their philosophy that has served them so well. Our freedom to modernize the credit union community should not be infringed upon by those who would rather sit still, or fear the response of for-profit financial institutions. The Renaissance Commission seems to me to be an honest effort, by thoughtful and reasonable people, to move the credit union community forward. Let’s give it a chance. Roger E. Hake President Nebraska Energy FCU Columbus, Neb.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.