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I noted the article in the May 16 issue about Nationwide FCU conversion (or merger) to a bank charter and comments made by Paula Edwards-Noice. The article commented that the father of their former CEO “got sold out for a furnace.” Being a healthy credit union, most members should get a decent return. In fact, this is true of all healthy credit unions. Just liquidate and distribute the proceeds. It’s as simple as that. Everybody walks away with money in their pocket.

But is this what credit union members really want? They sold it out for instant gratification. Unfortunately, that’s what most people want these days, immediate results, immediate return, get rich quick. I’m sorry, but their officials just quit. That’s a shame.

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