Natural person credit unions no longer need corporate creditunions in their current form and organizations that performfunctions currently performed by corporates should only be fundedby those who use them, Navy Federal Credit Union President/CEOCutler Dawson wrote the NCUA.

Because most large credit unions like his don't need or usecorporates and because of the availability of "competitivelypriced" alternatives, "the industry would be better served byeliminating the corporate credit union system," he wrote.

He suggests that to give smaller credit unions access toservices currently provided by the corporates, there should be twoseparate non-NCUA insured CUSOs, one to provide payment systems andthe other for investment management.