Regarding the letter from Stuart Perlitsh ("Questioning Cost of Small Credit Union Initiatives," CU Times, April 16, 2014) I respectfully submit that we are one of the small credit unions that has benefitted directly from the involvement of the Office of Small Credit Union Initiatives at the NCUA. When I took over as CEO just over five years ago, our credit union was going south and fast. At one point, our capital got as low as 4%.

After working with the OSCUI directly (they sent an economic development specialist to us), we were able to get some good direction in moving back towards profitability. They helped write a Net Worth Restoration Plan, they helped us receive the Low Income Credit Union designation (state-chartered so it was not handed to us by the NCUA at that time), and they helped provide some additional important training that helped us in our progression back to profitability.

We have also received a few grants from their office that have been very providential for our operation.

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