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Glatt: Round of Airline Cuts Is 'Huge Opportunity' for CUs

LAS VEGAS -- The impending furloughing of thousands more airline employees slated this fall "creates a huge opportunity for us" to step up and serve financially stressed members, Thomas Glatt, the president/CEO of Continental Federal Credit Union, told CU directors last week.

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LAS VEGAS — The impending furloughing of thousands more airline employees slated this fall “creates a huge opportunity for us” to step up and serve financially stressed members, Thomas Glatt, the president/CEO of Continental Federal Credit Union, told CU directors last week.

“We can’t engage in gloom and doom since in our case we’ve taken a tactical stand by cutting rates, extending payments and coming up with new products to help our members,” Glatt said in workshop remarks made at the National Directors’ Convention.

The Tempe, Ariz., CEO acknowledged that “creative numbering” is required, but Continental Federal, with its high net worth of 14%, can still spend the funds to increase growth while also providing assistance to members in times of turmoil.

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