Commentary

Perhaps a resolution to invest in security training, more effectively probe for vulnerabilities, or re-evaluate monitoring of critical IT systems?

A little over a month ago, the NCUA unceremoniously brought to a close the four-year saga of the failure and conservatorship of U.S. Central, the one-time $52 billion corporate credit union.

Every business can benefit from having a select group of external colleagues who act as professional resources and allies. Aside from accountant, lawyer and investors, another resource that is just as important (but not always tapped) is the credit union professional.

Just before the New Year rings in, Im reflecting on how proud I am of our industry. I am particularly impressed by how credit unions serve their members on the micro level but also partner and collaborate both locally and nationally to help each other and our communities.

Let there be no doubt that credit unions federal tax exemption is something our industry is going to have to fight for in order to keep.

This year was a transformative year for credit unions. It was a year in which credit unions made the transition from the losses of recession to the stability and growth of recovery. During the year, the industry topped $1 trillion in assets and grew strongly to approach 94 million members.