Having been present when Debbie Matz made her statement, “Community Development Credit Unions represent not only the past but the future of credit unions,” I want to do as Mike Welch did in his July 6 column and read her mind: She was referring to philosophy, a broader term than mission. She did not say “only CDCUs” leaving plenty of room for all credit unions who serve entirely, mostly or a group of poor people. Leave poor people out of the equation, and you no longer have a credit union. You can have a cooperative without poor people, but a credit union? Finally, just for the record, credit unions that fail, generally do so because of poor management, poor record keeping, insufficient capital – any number of reasons not connected with income of the members they serve. Joy Cousminer President/CEO Bethex FCU Bronx, N.Y.

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