However, the FDIC is understandably on edge right now with its equity ratio declining (1.21% after the second quarter of 2007 versus 1.01% at the same time this year) and insurance assessments predicted for the banks this year. I can definitely see how it could be taken in the current climate to imply that banks are less safe and sound.

While banks, including large ones–those so-called too big to fail–are taking huge hits, some are being bailed out while others left to whither on the vine. However, that does not mean that the insured deposits at these banks are any less safe and sound as they enjoy the same federal government backing as federal credit unions and most state-chartered credit unions' deposits, albeit through the FDIC rather than the NCUSIF. Both cover deposits to at least $100,000, with certain retirement accounts getting up to $250,000 in coverage.

Credit unions should be taking advantage of this time to tout their safety and soundness. But you, apparently, had better watch your words.

The second half of my thought on this though is in regard to TDECU's response to the situation. As a precaution, the credit union decided to pull it ads for now, though they disagreed with the regulators' assessment. But, CEO Ed Speed pointed out that the CU had immediate concerns to address, like surviving Hurricane Ike and ensuring its members also survive, at least financially.

Speed wisely chose to comply with the regulators' request, opting to deal with the substance of the issue later, after its own Mother Nature-created "dark clouds" cleared. He took the time to acknowledge the regulators and got on with his business at hand of serving Texas Dow's members. He had a plan in place to provide members access to their funds in the aftermath of the storm, even continuing a partnership with another credit union that his CU had assisted through Hurricane Katrina.

I certainly don't see Texas Dow's response to the regulators as a sign of backing down though. We'll hear more on this from Speed.

Words can be powerful, as we at Credit Union Times well know, and should be chosen appropriately and carefully. They can also be misunderstood.

In the last issue of Credit Union Times on this very page, I made some observations about the Republican administration's handling of the Fannie-Freddie bailout, comparing its basic party beliefs to what was actually happening. A reader, who provided his name and no further identification, accused me of blaming the GOP for "all" the problems. I went and re-read my column, but I still don't see his point. I was merely pointing out that the Republicans were not following their own philosophies when the rubber hit the road, not blaming them for the collapse of the housing market. Quite a leap.

And, if a picture paints a thousand words, few could measure up to the one we ran on the front page of our Sept. 10 issue. Credit Union Times' front page carried a photo of CUNA President/CEO Dan Mica standing with two beauty queens at the Homes for Our Troops ceremony in Minnesota. I received a couple comments on this also, but, again, not for the record.

Credit Union Times is a financial services news magazine first and foremost, a responsibility we take very seriously. However, taking the opportunity to insert a little levity and personality into it cannot be overlooked. Yes, the Homes event was honoring a severely injured war veteran, but it was also a celebration of a fresh start and the power of people helping people. And, honestly, who wants to read nothing but stories about the rising delinquencies at all financial institutions, including credit unions, and the government bailing out yet another private entity.

As made apparent by our letters to the editor page this week and last, some hackles were raised by my Sept. 3 column, which was in part on the Homes for Our Troops ceremony in Denver. Some felt I gave short shrift to the Minnesota credit unions' efforts that took place the following week. At the time I was writing that column, the Democratic National Convention, when the keys to the Colorado home were handed over, was just wrapping up and the RNC had not occurred yet. It certainly wasn't a slight to the Minnesotans and reading the entire column in the context of the timing, one could see that it was meant to applaud all CUs in their work everyday, from the large Homes projects to one small-dollar loan.

I don't want to appear thin-skinned because we do what we do to inform the public and not necessarily to please anyone; I do what I do to stir dialogue within the credit union community. Credit Union Times welcomes readers' comments on what we're doing and not doing or what you'd like to see more of. Keep those signed letters to the editor coming.

–Comments? E-mail [email protected]