X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
I always enjoy reading Marvin Umholtz’s monthly dissertation on credit unions and the financial services industry. More often than not he is on point with his views and offers a good analysis of issues. However, his letter to the editor in the June 17, 2015 edition of Credit Union Times contains a few statements that need to be corrected or clarified.

Mr. Umholtz is of the belief that during the corporate crisis credit unions faced in 2008 and 2009, the U.S. Treasury was the guiding hand in crafting the solutions that ultimately prevented countless natural person credit unions from failing.

Officials at the U.S. Treasury were without question extremely helpful in offering advice and counsel during that difficult period. Without their agreement to the steps the NCUA wanted to put in place to alleviate the crisis, and their assistance in loaning the money requested, the credit union industry, as we now know it, would look a whole lot different.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.