I was saddened to see the comments (CU Times, Sept. 23) from a30-year credit union veteran executive concerning too much energybeing used to prop up small and weak credit unions. I do believethe NCUA should formulate a distinct plan as to how to merge creditunions that are struggling to survive more effectively, but thecomments, if taken in context, are misguided.
But let's dispel the notion that it is the small credit unions thatare the issue. If we look at credit unions of $100 million or less,we see there are 105 with capital ratios of less than 6% risking$1.9 billion dollars, but we just had one credit union in Floridaof $1.7 billion folded into another credit union because it failed.Additionally, there are four more credit unions with a total of$7.6 billion dollars and capital ratios under 6%.
So which puts the credit union movement at a greater risk? How muchtime and energy do you think the NCUA is spending on these fourcredit unions as well as the fact that there are eight more creditunions with capital ratios between 6%-7% amounting to another $40billion at risk? How much time and energy has the NCUA spent onU.S. Central and WesCorp as well as the entire corporatesystem?
We are in the midst of a struggle for the survival of a greatcause. Having worked on the dark side for 20 years, I love thecredit union movement and have no desire to see it going afteritself. Let's learn from the past, get off the blame game and findreal solutions for our future and the credit union movement.

Michael J. Silvers
Chief Operation Officer
Patriot Federal Credit Union
Chambersburg, Pa.