Despite the expectation on my part for the August doldrums, the credit union community has been busy making news. In acknowledgement of all the goings-on, I’ll address several issues in this column.

First, and I think foremost, is the resurfacing of the alternative capital issue. I love the issue because it is so intricate. It touches on so many different aspects of what a credit union is and does and is so controversial and political. As I’ve stated before in this column (CU Times, Feb. 6, 2008), I feel divided on the issue but came down against credit unions having access to alternative capital.

Certainly credit unions could reach more members in need and do more good deeds with additional sources of capital. Low-income credit unions have this authority already just so they can continue their community development work despite their fields of membership that lack the resources for the deposits or loans that keep the typical credit union going.

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