WASHINGTON -
Calling on credit unions to thank the staff of the Hilton for so graciously hosting credit unions at 32 out of 33 GACs, Mica said he is already bracing himself for the complaints that are sure to be lodged at next year's event, as CUNA works to iron out the kinks at its new location at the convention center. "In a few weeks, we will start with a walk-through of the venue," he noted. "You must help. We must double attendance next year."
As Mica has for the last few years, he commended the banking industry for logging its sixth straight year of record profits and suggested credit unions point out the hypocrisy of the bankers suggesting that credit unions are hurting their business when the CU faithful descend on Capitol Hill to visit with lawmakers.
Mica also had sharp words for Consumer Financial Services America-the payday lending trade association-that recently boasted that it will no longer advertise for frivolous payday lending.
Reflecting on the state of the credit union movement, Mica noted the CU system overall has an average net worth of 11.5% and 89 million members. "Consumers Union was founded the same year as credit unions, 1934, and in its first 'Consumer Reports' publication, it listed four good things for consumers, and one of them was credit unions," he observed. "And that is still true. Consumer groups still rank us first."
