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This sponsored content article is provided to the credit union community for shared insights and knowledge from a recognized solutions provider in the industry. Please note that the views and opinions offered here do not reflect those of Callahan & Associates, and Callahan does not endorse vendors or the solutions they offer.

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April 9, 2007


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Anonymous

7/26/2012 04:05 PM

For an article about not throwing punches, the author certainly did not hold any punches back. Good job!

Anonymous

7/26/2012 04:03 PM

"I wanna hold your hand"

Withheld

7/26/2012 04:03 PM

Heady idealism coming from the large who are devouring the small, but don''t believe that it is true just because you read it on the Web. In twenty years working in small credit unions I have watched as credit unions got bigger and their numbers got fewer. There were 14,000 more when I started my career. Where did they go? Large credit unions did to them and for them what banks could never do, you closed them! And it still continues at the pace of 300 plus per year. So if you believe large credit unions still care about the issues of collaboration and taxation you are obviously not talking to small credit unions about these issues. In ten years when large credit unions have gobbled up the rest of the smalls you will have taxation and the pretense of collaboration will be your thanks for it. Then credit unions will be nothing more than a memory, just another bank.

Marvin Umholtz

7/26/2012 04:03 PM

CU industry vendors should have the right to express a point of view on topical issues, even though they run the risk of alienating potential clients. A CUSO also runs the risk of being perceived as representing its owners’ point of view as well. Most vendors pragmatically keep their heads down on controversial issues. Many CU executives want to keep the conversion option just in case, even though they much prefer to remain a credit union. I doubt they appreciate being called conversion vultures. There are also many CU CEOs who applaud what Wings Financial is doing and can’t wait to do it too. The author may not realize it, but his essay is exacerbating the growing battle within the industry between the purists and the pragmatists. The purists and those who profit from them have been in control for decades. The pragmatists will be the ultimate survivors because they recognize and respond to market forces. The purists are forcing everyone to pick a side rather than respect diverse points of view. When the CU purists cry loudly for “unity” and “cooperative values” it usually means that their business case is weak. Perhaps the purists should be holding hands with the pragmatists.

Anonymous

7/26/2012 04:03 PM

Excellent ... points well taken. Hopefully, Wings has provided a wake-up call to many of us.

Anonymous

7/26/2012 04:03 PM

Wonderful article, we have to start working together and not worry about whose territory we want to take over!

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