WASHINGTON – Credit unions often complain about what they see as the predatory practices of banks. Pacific Advantage FCU is taking issue with the actions of another credit union.
Pacific Advantage FCU President/CEO Allan Ontai wants NCUA to order American Airlines Federal Credit Union to stop trying to recruit new members from within Pacific Advantage's main sponsor Japan Airlines.
In a letter sent yesterday to NCUA Region 5 Director Melinda Love, Ontai said that the actions of Ft. Worth, Texas-based AAFCU "will result in a $4 billion, 211,000 member credit union waging a public battle with a $14 million, 2000 member credit union, all to the detriment of our industry."
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Ontai, whose credit union is based in Burlingame, California, asked Love to intercede "before we have to use all our assets as a 'big versus small' battle in the public arena."
He sent a copy of the letter to AAFCU President Angela Owens along with a detailed letter to her outlining specific actions to which he objected. A spokeswoman for Owens said today that she had seen the letters but had no comment.
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