In response to Credit Union Times online voting poll question regarding the attempted Wings Financial FCU takeover of Continental FCU, I think the takeover bid is setting a dangerous precedent. It is giving the ABA more ammunition in their opposition to credit unions. What makes us different from a bank, if we follow what the banks do? The big and strong take over the smaller and weaker, despite what the smaller wants. This is so far away from the credit union philosophy, it boggles my mind. What is Wings' CEO thinking? If this takeover succeeds, we will be living with the fallout for a long time. This may make Congress give credence to what the bankers have been saying about large credit unions and all of our rhetoric about the credit union difference may be looked at as just that, "rhetoric." Pam Troxell Security/Compliance Officer Auto Body Credit Union Lansing, Mich.

Continue Reading for Free

Register and gain access to:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.