May 3, 2004


  • I read the Annual report on BofA and might be somewhat concerned with the results the bank posted. Revenue up 17% to 10.8 billion, added 1.240 million checking accounts, top customer satisfaction scores up 11%, 7 million customers online and Nielsen and Jupiter rated web site best in class. This might be a tough competitor for your business.
  • Nice opportunity. However, without additional regulatory capital, maximizing this good fortune and foresight, is a challenge. The community would really benefit if credit unions like DCU could really go after the business. Opportunities like these make the thrift charter and its capital raising features quite attractive, even necessary?