Wow, I would like to tell you that the comments I read in the April 14, 2014 edition of CU Times regarding "Questioning Cost of Small Credit Union Initiatives," were not an echoing of the frustration currently felt throughout our industry. But the truth is, I hear those same type of defensive tactics on a regular basis.
Unfortunately, the focus of the article seems extremely narrow minded. Truly, credit union leaders face an unprecedented amount of frustration and anxiety during the current economic times. I could fully understand that this credit union leader might feel justified in questioning the NCUA decision to create an initiative that would revitalize the small credit union system, if its business needs had not been met or were questioned.
Perhaps Mr. Perlitsh should have input additional information into his article that could have shed some light on why he exactly feels that dues-paying, card-carrying small credit unions don't deserve the support of the NCUA small credit union initiative. This may have assisted readers in filling in the blanks of his hypotheses. However, since he has not, we are all left to speculate on his reasoning for vilifying a team of truly dedicated individuals.
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Our credit union has been honored to have the opportunity to be assisted by the OSCUI. What did we receive from those dollars invested in us? Our credit union received the services of a top notch professional business woman to analyze and evaluate our strategic decisions and make recommendations to our board. We also got a strategic plan that has realistic goals, those that are measurable and attainable, as well as a total action plan, detailing how to carry out our board's plan for success. We can't say enough wonderful things about the help we received from the OSCUI and their staff.
Sure, our credit union put our hand out requesting assistance from larger credit unions first, but after 18 months of no support, other than from the New Jersey league, we moved on.
I can, from my own personal experience, testify to Mr. Perlitsh that indeed the NCUA has run a complete analysis of all the data he references in his article and determined that this initiative is imperative to the future of the credit union industry. The truth is large credit unions need the small credit unions more than they realize; perhaps some additional support initiatives are in order?
Thank you OSCUI, we appreciate your help!
Sincerely,
Annemarie Shinn General Manager Research 1166 Federal Credit Union© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
