LAS VEGAS – The president and CEO of WesCorp said credit unions will have the opportunity for a “fresh start” with their corporate network when NCUA releases its proposed rules for corporates today – and he asked CUs to stick with the conserved corporate.
“I understand the damage WesCorp has done to your credit unions, but I appreciate your willingness to work with us,” Perkins said at the California and Nevada CU Leagues’ Annual Meeting here Wednesday. “Credit unions will have the opportunity for a fresh start with corporates. What do you want it [the corporate network] to look like?”
Perkins acknowledged there are many questions natural person CUs have regarding the future of corporates, including oversight, transparency and trust. He said the events of 2009 will cause many of WesCorp’s members to reconsider their relationship, both as an owner and a consumer. “This will be one of the most important decisions, so take the time to make an informed decision,” he urged the audience. “A historic vote is coming up, with a chance to reshape and reform the corporate network. We must study the problems, analyze quickly, and move forward. Do you want us back? Not all will agree, but with or without WesCorp, let’s move on. Kill it or support it, then get back to the business of serving members.”
Perkins said for the next six months, WesCorp will not charge members to perform an investment analysis.
