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CUs, Corporates Are Time Tested

The article, "Examining Corporate Balance Sheets" (CU Times, Oct. 15), on corporate credit unions is fairly balanced and should enlighten those who want to believe the worst about corporates. Credit unions and corporates are dealing with the current serious situation very effectively.

By Staff Writer | Updated on November 04, 2008

The article, “Examining Corporate Balance Sheets” (CU Times, Oct. 15), on corporate credit unions is fairly balanced and should enlighten those who want to believe the worst about corporates. Credit unions and corporates are dealing with the current serious situation very effectively.

I consider myself impartial, although I have worked in credit unions for about 40 years and who knows. Sure there are severe real estate and market problems, particularly in Florida, California and Nevada, and everyone is affected in some way but credit unions and corporates are meeting the challenges. They are managing their accumulated reserves to resolve problems during a time of very unusual market turmoil. It will take some time but we have the resources, reserves and management to do it.

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