Agency Fails To Think of CUsWhen Setting Its 2011 Budget
Just when we thought we had heard everything from NCUA like a thief in the night NCUA continues to financially rape credit unions on the regular basis, ending the existence of some. And now they have the audacity to increase their budget to raise examiners salaries from 5% to 8%. Labor union or no labor union, did NCUA give any consideration to CREDIT UNIONS? The answer is no; they never have and they never will.
This decision is adding insult to injury, and there is nothing credit unions can do to stop the abuse NCUA has dished out to credit unions over the last two years. NCUA failed big time to regulate the corporates; this is a fact that has been well documented, and we have paid and will continue to pay for their screw-up. Maybe the Federal Pay Freeze being considered by President Obama will put a stop to this gross misuse of judgment.
I can assure you that all federally insured credit unions can expect to experience, more than ever before, the arrogance, criticism, and the intimidation that NCUA examiners bring with them every time they walk through the doors. Don't expect the FLEXIBILITY as Chairperson Matz claims the examiner will have.
I am the CEO of a credit union which fortunately is doing fairly well in these very difficult times, but with NCUA and their illustrious Board of Directors, which continues to plunge the dagger deeper and deeper every time they meet, who knows what lies ahead.
I also fear reprisals from my examiner, therefore I do not wish to be identified, but I just had it with these injustices and abuse of power.
Name Withheld Upon Request