Mike Welch's column in the Feb. 18 issue on Jet CU's problems ("White Hat Smudges Can Provide Valuable Lessons") is right on, but I think there is more in this sad story. Where was the Supervisory Committee? In New York State, CUs have elected Supervisory Committees (SC); this gives them the necessary independence from the board and the CEO. If the employees of Jet could have depended on the SC, when they were asked to violate policy, they could have reported it to the SC. The other thing that bothers me is the idea the CEO can get away with anything. In many corporations the CEO is treated like a demigod. This "corporate value" sneaks into a credit union and can wreck the philosophy of people helping people. We (credit unions) are cooperators, we should look for ways to help each other. The trouble with getting into the rat race is the winner is still a rat. Credit unions should live up to a higher standard. C. Richard Wagner Director Municipal Credit Union New York, N.Y.