Chatfield Warns of New Bankers’Strategy

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ANAHEIM, Calif. - (10/26/05) -- Dave Chatfield, president of theCalifornia and Nevada CU Leagues who will be retiring April 1,2006, had a stern caution for the attendees of the two tradegroups’ annual convention here. “This is my last leagueannual meeting, and I have truly enjoyed the experience,” hebegan. “I look forward to working through March; workingbriefly with the new CEO to continue the tradition of leadership. Ithought about reminiscing about the successes we’ve had, butI can’t do that. I must warn you about the grave danger tothe very existence of the credit union movement.” Chatfieldsaid the bankers’ declared strategy is “containment andconversions.” He said banks wish to make CUs feel“boxed in” and “uncomfortable” with theircharters. “Can we stop them? Yes, we can, as long as yourecognize it is your job, not someone else’s. Be smart andstay together,” he told the audience.

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