June 26, 2006


  • Excellent observations and comments.
    Robert Hess
  • Other issues are still undisclosed as well--should the cu have put itself up for bid, was there an arm's length evaluation, etc. However believe it sets an important precedent for any other conversions that members are all owed something. Well written and provocative.
  • Excellent unbiased analysis. A majority of Nationwiders knew this was the plan from the get go; however, we also recognize that their is no way Nationwide can provide "protection of member value" post-aquisition. This is all about Nationwide leveraging an existing charter to enter into new ventures - if the new business opportunities really present an opportunity for significant returns then the .25% of book is a rip off for current members. Just my .02 or should I say $150 per thousand on March 31.
  • It's unlikely that the March 31 date was chosen to benefit all members equally. After all, March is the month in which executives receive their annual bonuses and deposit them in the Credit Union.A windfall for executives?
    former employee
  • I was sickened to hear NW would consume its own employees and retirees credit union whom members have faithfully supported. We have no doubt this was a predatory move on their part and I've already voted against it. I'll pull all my accounts if it goes through on the principle of the matter. That corporation is becoming a big bully in the financial market.
    30 yr NFCU acct holder
  • I''ve always trusted Nationwide Credit Union, it is my hope for the future, I am retired, but if we lose out & NW bank does not honor the nwfcu past security of the best interest rates, then I will pull out & go elsewhere. I''ve been a member since 1970