BankThink

Opposing camps in the CIT debate are arguing mainly over whether the faltering commercial lender poses systemic risk to the financial system. CIT´s supporters say its small business lending operations are crucial to keeping many businesses across the country functioning during the recession; those arguing against a bailout say its failure wouldn´t upset the markets or have a significant effect on the economy.

The July 9, 2009 CU Journal online article "Documents Show NCUA Miscalculated U.S. Central Losses," regarding the minutes of the National Credit Union Administration (NCUA) Jan. 28 Closed Board Meeting, contains several inaccuracies and mischaracterizations that warrant correction.

The choice of a programmatic or manual conversion of the merging credit union's data depends upon several factors.

The history of the finance industry has been punctuated with ups and downs, with many of the "downs" providing the impetus for strong organizations to rise to the top. During the recession in 2000, 40% organizations that had been top performers fell out of that bracket, leaving a huge void for new organizations to fill.

Question: do incentives really work, and is money the answer?

While speaking to the staff at a Midwest CU recently, I asked the question, "How many of you have someone in your direct family who is unemployed?" More than half the hands went up.

In the past year, we have seen the financial titans Lehman Brothers and Bear Stearns reduced to rubble, unemployment rise to near-record levels and our highly valued housing market find new lows, while regulators and legislators struggle to administer a series of cures to our ailing economy.

With all the changes occurring within the economy and adversely affecting CUs, change inside your credit union is inevitable. That said, how many initiatives are you putting on your employees' plates in the coming months that will require them to do their work differently — or more efficiently — to ensure the survival your credit union while still providing quality member service?

In the four months between the time NCUA announced it would be docking all federally insured credit unions an "assessment" to bail out some of the corporates and the time the agency unveiled its stabilization plan, Fred Becker said he talked to more CEOs than he had in the nearly 10 years he's been president of NAFCU.

I have read several letters from Dennis Fisher lambasting Dan Mica and his supposedly misguided efforts to gain credit union access to TARP funds. Mr. Fisher asserts that he represents the majority of credit unions and because his side won, he suggests that Dan Mica should be praising those who defeated his efforts and acknowledge that it was a very dangerous path he was trying to lead credit unions down. Well, let me suggest several things for Mr. Fisher to reflect upon if he is inclined to view this subject with an open mind;