To protect the industry at a time it is most vulnerable, NCUAneeds to provide still "more transparency" and understanding of itscorporate actions and be cautious in "casting us with the lot ofall other financial institutions," said CUNA Chairman KrisMecham.
Commenting on the U.S.Central/Wescorp crisis, the president/CEOof Deseret First FCU of Salt Lake City, said already "we will bepaying a very heavy fee" for the conservatorships and it will bechallenging to say the least for CUs to explain 2009 losses tomembers.
One encouraging step NCUA has taken, said Mecham, is in agreeingto "hold securities to maturity and we hope they do that" beforeany precipitous liquidation, urged Mecham.
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