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Sorry, but I disagree with Sarah Snell Cooke’s assessment that home-based credit unions are preposterous. (“It’s All About Location, Location, Location”, Jan. 8, 2014, Credit Union Times.)

Home-based CUs have existed for many years, without this sudden and urgent discovery that they pose significant risks to examiners. If the NCUA wants contact info, they can review the List of Officials that is a part of every 5300 Call Report. This is a weak leg on which to stand.

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