“As I see it, we're now in the cleanup phase for the banking industry.”

–FDIC Chairman Sheila Bair

“History will record that when we look at 2008 and 2009 credit union financials, we've lost a great amount of comparability. You can't tell who took what when, and it's very unfortunate.”

–Scott Waite, senior vice president and chief financial officer of $4.3 billion Patelco Credit Union,San Francisco.

We've become very creative with loan modifications, each one becomes a custom project. If we tried to stick to a government program, we'd almost be underwriting to that program and not considering all the different options we would have keeping the loan in our own portfolio.
Ultimately, we need to make decision that benefits the member, the credit union and the community, regardless of what government programs offer.

–Mitzi Zarcone, senior vice president, lending and collections of $1.8 billion California Coast Credit Union, San Diego.

“The pace is exactly where it needs to be to assess our systems. We're able to fine tune and tweak.”

–Tom Glatt, president/CEO of REALTORS Federal Credit Union, on the financial institution's mid-May virtual-only launch, which at press time had signed on nearly 600 members.