Sign In To Keep Reading!
Need To Register?
Thank you for your interest in reading the fantastic content we have on CreditUnions.com! All users must log in to read, research, browse, and have fun on CreditUnions.com. It's free to create an account.
Learn What You're Missing
Upgrade Your Subscription
Back to CreditUnions.com
Read & Watch
Deposits & Payments
Operations & Technology
Search & Analyze
Find A Credit Union
Find A Credit Union Executive
Build A Peer Group
Strategy & Performance
Anatomy Of A Credit Union
Market Share Guides
Credit Union Directory
5 Tips To Survive Multiple Mergers
What Lurks In The Dark Web?
An Education In Online Banking Conversion
ACH Data Means More Lending For A NY Credi...
A Strategy To Market What Members Want
12 Ratios For Marketing Managers
It's Not Just A DC Road Race
Best Of Payments And Technology 2016
Best Of Mortgage 2016
Best Of Marketing 2016
Best Of Cooperative Strategy 2016
2017 Callahan Credit Union Directory
4 Tips For A Game-Changing 2017
Fail, To Succeed
Community Reinvestment In The New Year
The Rise Of The Machines
The Secret Behind Member Behavior
NCUA Board’s July 25 Decision Shows Need For Rethinking By Regulatory Leadership
IRR In Today’s Cooperative Industry
Fictionalize Your Social Marketing Strategy
Which credit union has the highest loan-to-share ratio?
How has the industry’s net interest margin changed and which state reported the highest level?
Billions More Reasons For The NCUA To End The Deepening Secrecy
NCUA Shows Nobody The Money, Except For The Attorneys
Money Indeed Changes Everything: An Open Letter To The NCUA Board
Five Corporate Estates Gain $570.1 Million In Second Quarter, But NCUA Secrecy Remains
NCUA Continues To Milk The Share Insurance Cash Cow
Sept. 28, 2009
This article and situation brings to mind oneof my favorite Winston Churchill quotes - "Gentlemen, it appears that we are out of time and money. Now we shall have to think."
Alice P Stevens
Anyone paying attention at the first of the' town hall meetings knows that there is a Grand Canyon sized disconnect between the Board's fundamental approach to credit unions and that of the NCUA staff.
I've watched the NCUA's "empire building" for 30 years. I wish I held even one iota of hope that somehow they could be reined in, but even Board members with far more powerful personalities (and respect from staff) than the current Board have, at best, only paused their march for a short period of time.
My confidence in our future is declining the more I see of NCUA actions. While FHLB (another coop) preserves its members capiital in this crisis by keeping OTTI as capital and FDIC injects capital to ensure solvency, our regulator instead continues to withdraw capital , blame accountants, and threaten natural person credit unions. NCUA is in deparate need of accountability but attempts to inject that are likely to threaten more than the corporate network. Is there a way to get back the capital NCUA has taken by their assessing a market value where no market existed? I do not know of any but I do know they are the only regulator to take such detrimental action in this environment.
Mr. Filson is opening a discussion that should be taking place between trade associations and their state league arms and the NCUA. Were NPCUs to try and operate with the lack of scrutiny and accountability that the regulator does, they (the NCUA) would be writing Cease and Desists overtime. If the NCUA Board will not open the dialogue much wider and demand accountability from staff, perhaps it is time to harness the energy of the people, our Boards, staffs and members, to press for answers.i
How bout Mr. Filson start a petition for a vote of no confidence in our regulators? A little public shame and embarrassment in the press could go a long way.
I wonder how this assessment is going to effect the overhead transfer rate? Will it be a windfall to the NCUA at the expense of state-chartered credit unions?
NCUA does not have the brain power to solve the problems facing credit unions but unfortunately they have the power and rather than learn from their mistakes or get advice and assistance from people who have been there and have some insight they rather "protect the fund" at the expense of most credit union with no real answers. Meanwhile credit unions as we know them are rapidly disappearing.
4 Tips For A Game-Changing 2017
NCUA Board’s July 25 Decision Shows Need...
Billions More Reasons For The NCUA To En...
1001 Connecticut Ave. NW Suite 1001
Washington, DC 20036
P: 800-446-7453 F: 800-878-4712
© 2017 Callahan & Associates, Inc.
All rights reserved