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

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

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

David LeNoir Sr.

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

Mike Brandt

Freedom of speech is under attack. The word BANK is very generic. Used even in monopoly games, as well as many unofficial financial activities.

Anthony Skeete

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

Brian Clagett

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

Carolyn M. Warden

“The activity formerly known as banking.”

Jesus Hermosillo

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 it wrong to say “our ship sails at…” unless it really has sails. And you can no longer “ship by air” unless your boat has wings. Thank the banks.

Brian Gately

What does the Canadian government suggest people use to describe their activity at a credit union? Credit unioning? This is absurd.

BillyBobJim

“Fill in the Blank,” July 14

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

David Park

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

I would love to see how the questions were phrased. I'd also like to see what the response would be if, included in the questions, consumers were informed how much all this regulation costs them directly.

Ima Nutt

Instant Insights /

Banned: Readers React to Canada's Bold New Rule

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