Maybe I am missing something but the Five-Year Financials of ASI published in your March 26th issue do not give me greater confidence that a private insurer should be insuring credit unions. If I am reading the reports correctly the Reserve for guaranty losses (in 2002) dropped $2.3 million which I have to assume, there being no evidence to the contrary, were to cover insured losses. At the same time the Provision for Guaranty losses (in 2002) was $1.4 million which would imply a real loss on guaranty of $3.7 million. Further, revenues from 2001 – 2002 were relatively flat yet expenses increased by over $2 million, a 35% increase in expenses resulting in a $2.16 drop in net income. Why would this make me more confident of the ability of ASI to last over the long haul? Steven E Potts Chief Executive Officer Santa Ana Federal Credit Union Santa Ana, Calif.

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

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

  • Critical 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 and

Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


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 and

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

Copyright © 2023 ALM Global, LLC. All Rights Reserved.