RBC And Some Inconvenient Truths

Current comment period should be just the beginning of constant contact with those who rule our world.

 
 

I’m adding to Chip Filson’s blog this week urging credit union leaders to “vote” on the risk-based capital rule – “Vote On RBC By Commenting Now.”

An inconvenient truth is that all organizations do respond to the squeaky wheel. And the idea that we should suffer in silence because of fear of retaliation from those who govern us is repugnant. So is going along to get along.

Making Voices Heard

Another truth: the RBC comment call this time, as it was last time, is just one battle in a war. As an industry — from the smallest CUSO to the largest natural person credit union — we need to make our voices heard on everything that affects credit unions in this country.

We need to raise our voices. Everybody. Not just our lobbyists in Washington. The idea that we can win the game by only talking through people we pay to play the game is too narrow a strategy. 

Enabling A Comment Engine For Members

The time is now for every credit union to put a comment engine on its website. That would be a tool for the tactics we need to keep a constant focus on the grassroots, viral expression of what the industry thinks and needs. 

We need to enlist credit union members in the RBC debate and beyond. The idea that members will not respond is simply not true. They have before, and they will again.

All it takes is marketing, a convenient process, and a targeted focus that makes sense. That way we let policymakers know that we all will engage on issues and concerns.

Not just your board. Not just your C-suite. Your members! And everyone who cares about the future of the cooperative idea as embodied in our nation’s credit unions.

Raising our voices needs to be an ongoing effort. The current RBC comment period is a great time to start, if you haven’t already. Get your comment in by the April 27 deadline. Here’s the NCUA webpagefor that purpose.

Randy Karnes is the CEO of CU*Answers.

 
 

March 27, 2015


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