BankThink

One of the reasons that credit unions have traditionally won only a small slice of the real estate lending market is the typical homebuying process. What usually happens is that consumers see a real estate agent long before they sit down with a lender. That's a backward way of doing things, because how can you know what price range to look for before you've been pre-qualified? But people think "new house!" before they think "new loan!" and so the Realtor is often the starting point.

I wonder how many were struck by the irony when Dan Mica thanks President Obama for keeping the NCUA independent when just a short time ago he was asking for TARP funds just in case of an emergency. I fought against the use of TARP funds and my side won. If Dan Mica's side had won, credit unions would have been no doubt very included in the administration plans for financial institution reform.

Stumbling through the dark, like a drunk looking for a lamppost, does have its rewards. You get to do and say anything that comes to the muddled mind without remorse or blame, so that when you do finally find the light and begin to sober up, your new-found position can be anything you'd like to make of it and totally disconnected from how you got there.

Credit unions got some pretty good advice recently from a guy they likely once would have turned down for a loan.

For all Citigroup's perceived flaws in the Chuck Prince era, the company seemed to make steady and visible progress under the lawyer's watchful eye in terms of its internal controls and its relationship with the myriad regulators who oversee its far-flung operations. In the past week, however, there have been signs of slippage — with one instance bearing more than a passing resemblance to difficulties it faced before Prince's governmental-relations repair work.

Congress is out this week and Washington will be quieter for it. But the Federal Deposit Insurance Corp. will hold a board meeting on Thursday to discuss rules for investing in or buying failed banks. The outcome could be big news for private equity hopefuls and non-bank lenders looking for more than just a charter.

In tumultuous times such as these, it's no surprise that credit unions will not always be unanimous about the variety of issues they face. As the board of the national trade association representing all credit unions, it's our job to work through the thicket of different opinions and come to what we believe to be the best solutions for the movement as a whole. It's not always easy or straightforward, but through a diverse committee and board structure, I believe all points of view are considered before we make decisions.

Editor's Note: CURE (Credit Union Retired Executives) is sharing advice with Journal readers based on questions it receives and responses from the numerous retired CU execs it has recruited.

Growing numbers of credit unions shuttering branches to drive down expenses. Many slashing operating budgets leaving little money for new brick and mortar. Credit unions seeing members move across town and across the country in search of new jobs.

They came. They saw. They...shrugged.