LENEXA, Kan. — Corporate credit union representatives agree that the Aug. 11 front-page article in The Wall Street Journal ("Mortgage-Market Trouble Reaches Big Credit Unions") is accurate and correctly portrays corporates as the most conservative, risk-averse institutions in the country.
"It's the same exact issues that have already been covered by industry press, but because it's The Wall Street Journal, it's a new stage with a different readership," said Austin Braithwait, senior vice president for member relations and communications for U.S. Central Credit Union.
Braithwait said the corporate community was buzzing last week as reporter Mark Maremont called from the nation's second-largest daily newspaper requesting interviews. Though corporates didn't know when the story would run or what would be included, the article's biggest surprise was its placement on the front page.
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