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
    MIke Murray
  • 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?
    Bruce Cramer
  • 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.