The creation of REALTORS FCU is an intriguing story. We all know about the battles between bankers and the National Association of Realtors. This could cause the bankers to oppose this new credit union more vehemently than normal, but let's put that story aside. Realtors are a perfect group for a credit union. Their financial lives are different than most. Instead of regular paychecks, they rely more heavily on large influxes of cash via commission checks that can be sporadic depending on market conditions, etc. The ability to have a financial institution run by a board that understands the unique financial lives of realtors highlights the credit union difference. While bankers criticize the "common bond," it can still be the basis for new credit unions to serve groups with unique needs. So while new credit union charters are not plentiful, there is still hope.

- Mortgage Mess Opportunities. What could possibly be good about the mortgage bust? The problems with subprime and overall mortgage lending have led to some huge losses in the banking sector. From Citigroup to UBS, the big players of banking have not been spared. I certainly do not root for banks to have losses; we need a strong financial system. But what it has done is create opportunities for credit unions. Key credit union trade association leaders continue to pop up in the national press and on financial cable networks talking about how credit unions can help alleviate some of the problems consumers are facing. We've also seen a number of credit unions launch new offerings geared at moving consumers into more affordable mortgages. Although there have been some pockets of problems, credit unions in general have avoided the deep mortgage problems affecting banks. This is especially positive given the rise in mortgage lending among credit unions over the last decade. The mortgage mess has created opportunities.

- Learning From the Past. I am thankful credit union leaders seem to be learning from the problems of the past. Turn the clock back a few years and credit unions were fending off banker attacks about how well credit unions are serving the underserved. The GAO did a study. Some banker groups did their own. Congress held a hearing. NCUA did a data collection pilot. The scrutiny was intense! It has died down. It's barely heard any more, but fortunately credit unions haven't forgotten.

Programs like the National CU Foundation's R.E.A.L Solutions program has helped launch very successful payday lending alternative programs like those found in Wisconsin and Ohio. What's smart about R.E.A.L. Solutions is its ability to track data and come up with stats on how much money members save through the programs.

Credit union groups have become leaders of financial literacy and financial education. The number of grants for financial education efforts is impressive. Things have really picked up from three years ago when the attacks were fierce. Credit unions have always served those of modest means, but now there are more tools in place to track that. This is key because this issue will be hot once again. All states must have programs, whether education-based or product-based, they can point to and produce statistics when this argument comes knocking again.

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