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Welch Nailed the Conversion Issue

Thanks to Mike Welch for highlighting this bank conversion issue in his July 13 column. His comments are spot on. It's a very simple equation - follow the money. Keep ringing that bell - maybe some directors will get the message. I know the same process is occurring in other...

By Staff Writer | Updated on August 02, 2005

Thanks to Mike Welch for highlighting this bank conversion issue in his July 13 column. His comments are spot on. It’s a very simple equation – follow the money. Keep ringing that bell – maybe some directors will get the message. I know the same process is occurring in other industries – and it is a shame. Two years ago, WSECU’s Board of Directors amended its bylaws to memorialize the board’s intention to remain a credit union in perpetuity. This firm stance shows real commitment both to our members and the credit union movement. Thanks for the great piece – nice issue all around. Kevin Foster-Keddie CEO Washington State Employees CU Olympia, Wash.

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