CU Times' story on Canadian credit union leaders'decision to ban credit unions from using the word “banking” onmarketing materials sparked a lively conversion on Facebook andcutimes.com. Here's what CU Times readers had to say aboutthat story, as well as credit union news out of Washington.

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“Canada Bans the B-word for Credit Unions,” July 6

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The definition of banking: “The business conducted or servicesoffered by a bank.” The definition of bank: “A financialestablishment that invests money deposited by customers, pays itout when required, makes loans at interest and exchanges currency.”Despite our unique cooperative structure, we OPERATE exactly as aconventional bank. This is totally ridiculous.

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David LeNoir Sr.

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Wisconsin has the same law on the books for credit unions. Theonly exceptions are made for online and mobile banking. We justreceived a stern reminder letter from our trade association thatthe banks are pushing the state regulators to crack down again.

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Mike Brandt

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Freedom of speech is under attack. The word BANK is verygeneric. Used even in monopoly games, as well as many unofficialfinancial activities.

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Anthony Skeete

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Sounds like the perfect time to genuinely differentiate. Whenpeople go to Walmart, they go shopping, not “storing.” Banking is acommodity and credit unions can be the un-banks. Canadian CUs, thisis your independence day. Take advantage of it. Proudly proclaimyour unbankerly ways! Demonstrate how you are different.

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Brian Clagett

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Then to be equitable they need to ban banks from using the word“credit.” They can use “usary” instead. Consumers will probablyhave to look up the meaning of “usary” first, but then they wouldsee transparently what they are doing to themselves and theirfamilies' financial well-being by going to the B-word.

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Carolyn M. Warden

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“The activity formerly known as banking.”

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Jesus Hermosillo

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Let's see now … so in Canada you will no longer be able to say“banking at your credit union.” Maybe then they should make itwrong to say “our ship sails at…” unless it really has sails. Andyou can no longer “ship by air” unless your boat has wings. Thankthe banks.

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Brian Gately

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What does the Canadian government suggest people use to describetheir activity at a credit union? Credit unioning? This isabsurd.

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BillyBobJim

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“Fill in the Blank,” July 14

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CUs pay dividends instead of interest and members hold shares.Sounds like “investing” to me more so than “banking.”

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David Park

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“Poll: Voters Support CFPB, Strict Financial Regulation,”July 18

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I would love to see how the questions were phrased. I'd alsolike to see what the response would be if, included in thequestions, consumers were informed how much all this regulationcosts them directly.

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Ima Nutt

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