Large banks may be in survival mode now, but "once they get their TARP funds back" these competitors will become more challenging than ever to credit unions, and this means the industry better take advantage of the current economic climate with more urgency, former NCUA chairman Dennis Dollar warned California/Nevada CU leaders late Friday.

In a featured speech to the annual FOCUS 2010 EduConference of the California/Nevada Credit Union League, Dollar urged CUs to "seize the mantle of consumerism rather than cocooning away awaiting the fog to clear."

The fact is, he said, once conditions stabilize and banks get back on track, they "will begin to focus on the marketplace again, rather than mere survival."

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