February 16, 2009


Comments

 
 
 
  • The problem that we are going to run into is when the banks are nationalized and credit unions are taxed - where else is the government going to come up with the trillions of dollars to pay down it's debt. This was an amusing story; however, we need to be looking over our shoulder and making sure Uncle Sam doesn't send the tax collector's to our doors.
    Anonymous
     
     
     
  • Good dramatization of why CU's are a wonderful alternative to banking as usual. So why aren't CUNA, NAFCU, state leagues, et al coordinating on an all out PR blitz touting the same? We're missing a wonderful marketing opportunity!
    Anonymous
     
     
     
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    Anonymous
     
     
     
  • Amusing and insightful story. CU's stand head and shoulders over banks when it comes to servicing the financial needs of the community in a responsible manner. Sadly though, try adding a few corporates to your amusing story and the story isn't so amusing. The corporates were acting irresponsibily and like banks and have help create a mess for responsible CU's. How will the corporate CU's be held to account? And their answers to congress (via your little story here) would be interesting to say the least.
    Anonymous
     
     
     
  • I appreciate the sentiment of this article. Still, I dont see how any lender can weather this economic storm without having both auto and home loans going bad. Commercial RE is also a factor, and who knows what's at stake there.

    The numbers I read werent a 12% ratio, they were more like 2-5% on the CU where I'm a member.

    Dont want to be paranoid, but people are saying some scary things out there. I do think CUs will get more than anyone else, and FDIC will get bailed out because otherwise, its simply all over. Still, I dont see why CUs should be immune. Better off, OK, but immune, not possible.
    Worried party
     
     
     
 
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