I have to take exception to Mike Welch’s June 18th column, “Middle-sized CUs Most at Risk of Survival.” Let’s see, our credit union is $50 million in assets (“the middle group”) with 4,800 members (not a bad average balance), our assets have increased by over 30% during the last two years, we offer the same menu of services that the “large credit unions” do, and a measly 96% of our members are either “very or satisfied” with the credit union. We are in the 95th percentile in the country in penetration of services per household (that’s pretty good), and despite selling over $7 million in first mortgage loans to date in 2003, along with rapid share growth, we somehow manage to maintain close to a 70% loan-to-share ratio. Further, we continue to enjoy longstanding, excellent results with opinion audits and regulatory exams. Even more shocking is the fact that my staff and I actually work regular hours, and each evening we go home on time (there’s something to be said for the quality of life). All this despite the lack of “volunteer and staff expertise”. How can that be? Oh well! I guess that we will continue to “struggle for our place in the credit union sun”, and wait for the inevitable knock on the door. Or maybe, just maybe “the middle group” of credit unions are the best of both worlds. With all due respect, Welch really missed the boat on this one. Raymond F. Dowling President/CEO Stamford Credit Union Stamford, Conn.

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?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. 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 TreasuryandRisk.com and Law.com.

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

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