Ever since last fall, the industry debate over the propriety of the public campaigns of small, deeply troubled inner-city credit unions to raise capital among other CUs and the citizenry has generated lively and sometimes strident rhetoric.
Joined by their backers, the ailing CUs themselves–many faith-based and reliant on foundation grants–maintain they are waging media campaigns to keep the doors open well before an NCUA liquidation or merger. In their view, they can survive and their services are vital in the community.
And they contend their financial bind is not entirely of their own doing.
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