Los Angeles credit unions, smarting from a negative article in a local business journal hitting on poor performance, stepped up a quiet media campaign this week countering that "not all credit unions are suffering."
The latest rebuttal to an Aug. 16 article, entitled "Credit Unions Come Up Short" appearing in the weekly Los Angeles Business Journal, came Monday from Roger Ballard, CEO of the $3.5 billion Kinecta FCU of Manhattan Beach arguing that the NCUA assessment and the corporate crisis distorted a positive CU picture.
"Were it not for these actions, Kinecta would be considered 'well capitalized' under National Credit Union Administration definitions," wrote Ballard in a letter to the editor.
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