Paying More and Strengthening the Credit Union

We are presently in a "flight to quality" environment. Money is coming in, away from the scary stock market and equity mutual funds. But what do you suppose "quality" means to members? They might say "not volatile like stocks nd mutual funds;" they might say "insured." In fact, it means more than both of these. For one, it means something that may shock them, that they wouldn’t readily believe, although as credit union members they should, it being our duty to keep reminding them. "Quality" when referred to in the credit union context means the members themselves. But people are hurting, especially people who have to depend on income from savings to live on. They have seen that income decline significantly. I propose paying not what we can get away with on savings but more than we need to. And telling members so.




July 1, 2002



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