Midwest Corporate Credit Union's Doug Wolf has been on the road this week, meeting with member credit unions and assisting them with corporate impairment accounting questions.
He said members who run small shops have "made similar comments" to those made by other small credit union leaders this week to the Credit Union Times.
"The smaller credit unions are concerned their corporate won't stick around, and they like having their own corporate in their own part of the country," he said. "And, they truly fear things will get changed without their interests really being considered."
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Wolf said his members say they want the $238 million Midwest Corporate to survive "in some form, at least" and said a few of his large credit union members have pledged to recapitalize the institution, if necessary, for their smaller counterparts.
Wolf took trade associations to task, saying "they sure like to drag small credit unions along with them when they lobby Congress," and said those who influence legislators and regulators need to remember small credit unions are politically valuable.
"[Small credit union managers] don't get too worked up about it, they go on about their business of serving members, but there's a real sense of 'what can we do?' They don't feel like they have much of a way to affect the process," he said.
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