Feb. 16, 2009


  • 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.
  • 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!
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  • 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.
  • 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