I believe that NCUA should require credit unions that want to convert to banks to reveal the potential compensation for management and directors in the disclosures provided to members prior to a vote on a conversion. I know that these credit unions are first converting to mutual banks, and not stock-owned, but as past conversions have shown us, there is a likelihood that once a credit union converts to a mutual savings bank, the next step is stock-owned. These conversions allow the officials to gain windfall profits from the equity the members have built. Maybe this further disclosure would help members to stop and think about what they are giving up. Dave Osborn CEO Anheuser-Busch ECU St. Louis, Mo.

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 © 2023 ALM Global, LLC. All Rights Reserved.