Various segments of credit unions are in great denial regarding the world around them.
It may be common–and it certainly is permitted under NCUA rules–but debates are beginning to be heard among some credit union experts when it comes to credit union employees (frequently the CEO) serving on the board of directors as treasurer.
Credit union representatives to provide feedback on policy, rule-making, engagement.
Industry experts bat around whether CEO serving as board treasurer is a good idea. Drugs and fraud case is an example. Print story online now.
In response to the “Call for ‘Bank’ Entries” letter from Gregg Stockdale, and with all due respect to that unique call to action to re-label what we do, I believe that an attempt to redefine what credit unions do as anything other than banking is counterproductive.
I read in the issue Aug. 22 issue the letter, “Call for ‘Bank’ Entries,” [page 14] that Gregg Stockdale from 1st Valley initiated. I am in total agreement and have been for years.
The banks don’t like us using the word “banking,” and quite frankly, neither do we. We’ve got a large talent pool out there. Why can’t we come up with a better description than banking for what our members do when they come visit us?
The debate over the fate of small credit unions continued on CUinsight’s blog last week with Henry Meier of the Credit Union Association of New York interjecting that “the days of treating your examiner as your de facto compliance officer are over.”
Compliance is the cost of doing business and if you can’t bear those costs, you won’t be in business.
First, Bauer Financial already risk rates credit unions for free. Any member can check it out. Second, slippery slope. Once people start releasing this information, those that don't will be suspect of hiding something.