GSCUConsulting

"Former CU Employee Sentenced for $300,000 Embezzlement" Dec. 28

Any employee or official who steals money from the membership should receive the maximum penalty under the law, regardless of mitigating circumstances. There is no place in the credit union world for crooks!

WVF

"Focus Report: Charitable Giving & Community Relations," Dec. 7

It was gratifying to read about the various ways credit unions share the philosophy we hold dear at The Summit Federal Credit Union: That to best serve our members, we also need to serve the communities in which they live and work. Yet, such community involvement is much more than merely a professional duty; it's a natural extension of the altruistic character of credit unions and those who work in our industry, a true embodiment of "people helping people."

We were equally delighted, though not surprised, to read that Rochester, N.Y., where The Summit was founded and is headquartered, is second only to Minneapolis in volunteer rate by percent of residents (34.8%). What a wonderful affirmation that we are in like-minded company both in our own community and in our industry.

Cynthia Kolko

PR Specialist

Summit FCU

"Millennials, Priced Out of College, Turning to Blue-Collar Work" Dec. 27

I don't believe this article. They're too soft to get dirty and do manual labor. All they do is whine.

Although getting a trade now is probably the smartest thing they can do because college educated kids are a dime a dozen.

America cannot function without tradesmen, We're in an era where if you're good at what you do you can name your price and surpass most college grads by 5 fold salary-wise.

PunkRckBob

"Credit Union Member Satisfaction Drops: CFI Survey" Dec. 16

I'm beginning to believe that credit unions are becoming too profit oriented and are drifting into a more corporate business model of the competitive banking industry. I formerly served on the board of a large credit union for 25 years and have followed the credit union world closely since, and even then, it was clear to me that non-interest income was of preeminent concern.

WVF

Our prolonged low rate environment has caused the basic cu model to fail to provide a positive bottom line. CU's have cut expenses, and raised fees, but as this article shows, service has suffered. One has to wonder how much of the above dissatisfaction is due to staff cut-backs which may be unidentified by members. Better to utilize income generating options that do not include a similar high rise in expenses. Making more loans won't get the job done. Obtaining loans without increasing expenses will. Addressing income from sources not tried, but available, would help immensely.

GSCU Consulting

"Congressional Stars Align for Tax Reform" Dec. 9

Mr. McKecknie has made an astute assessment of the current political situation. In a further deep dive into the policy question at hand one must also ask — does a business plan contingent upon the tax payers' underwriting of a tax subsidy of a financial institution charter that mimics for-profit institutions have a shelf-life of sustainable duration in the next few years? A poor bet under even the best of circumstances.

Marvin Umholtz