X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

“There’s a lot of opportunities there, but there’s also a lot of thought and processes in how you get there. Working together is a nice concept, but like marriage it’s the details that kill you.” – NACUSO General Counsel Guy Messick explained collaborative CUSOs to attendees at NACUSO’s Directors Conference and said forming one was like dating, marriage and divorce. “We want an institution that is beholden to us. Banks like big depositors. The average medical assistant, technician maintenance worker or teacher doesn’t have that kind of bank account that would give us the votes to control our own institution.” – Michael Johnston, teacher in Grand Rapids, Michigan, on why he is not interested in the kind of voting the $1.1 billion Lake Michigan Credit Union has said it would implement should it become a mutual bank. The credit union has said its bank depositors will have one vote for every $100 in deposits up to 1,000 votes should it become a bank. “We don’t expect any activity in this legislative season, but we think the process of education will reflect our efforts.” -Community Bank (Pa.) CEO Eddie Dunklebarger, chairman of the Pennsylvania Bankers Association Credit Union Strategies Task Force, on bankers’ efforts to curb credit union expansion.

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.