I saw the article about State Employees' Credit Union and whether it is safe and sound. ["OIG Report Reveals NCUA Questions SECU's Safety and Soundness," CUTimes.com, May 16.]

If they were doing anything that was unsafe or unsound, the NCUA would have to issue a cease and desist order. A DOR is issued to document area of concern and agreements reached to correct the areas of concern. What is interesting is that it seems that the DOR was written before any discussion with the board of directors of SECU. The DOR is the first step in the regulatory process. If the board does not agree with the concerns expressed or the suggested corrections of the examiner, the DOR needs to clearly document this disagreement.

The simple fact that Herb Yolles (I really think he is a good guy) would sleep better is not a safety and soundness issue. The last time I checked, 7% is still classified as well-capitalized. I bet that SECU trims it sails shortly because they are approaching the 7% number not because of any reason but rapid growth.