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Recently, various media outlets reported for all to see the latest spat between the credit unions’ two major trade associations, amid one of the most critical legislative junctures in this economic crisis. This particular instance was regarding the proposed Senate cram-down legislation with the addition of key corporate stabilization provisions and deposit insurance extension.While it is understandable that there are areas of disagreement on the impact of specific provisions in the bill-why is this played out in public? Why didn’t the two groups talk to each other before one went running to the press with their complaints? How about each group making the effort to understand each other and come to an agreement on behalf of the credit unions they represent? What benefit does this type of public squabbling offer to the credit union movement, our legislators and to our membership-who are counting on us now more than ever to help them through this crisis?Our associations must work together and collaborate on a solution that benefits our credit unions, and more importantly, our members.

Peter Westerman

Credit Union Times

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