NCUA Should Back Off 'Incomprehensible' Attack

Shame on NCUA.

I applaud CEO Perlitsh for his aggressive and creative marketing actions ("NCUA Asks Glendale To Take Down Ad," CU Journal, March 2). With all of the pressing issues we as credit unions face these days, isn't it incomprehensible that Glendale FCU is being hassled by the NCUA over an ad. In the face of stiff competition from all types of financial institutions, Glendale runs an ad that shows independent ratings on theirs and other financial institutions safety and soundness, which puts their credit union in a favorable light.

Why is this a bad thing? I hope for Glendale's sake that thousands of existing and potential members took the time to see and read the entire ad. It's obvious that their direct competition did, which is why NCUA even got involved in the first place. We're talking about a page in the credit union's newsletter and website devoted to this issue, not a slew of billboards or TV commercials. Their efforts to set themselves apart from the competition should be encouraged. I don't see how, given the likely audience of this information, NCUA or any fellow credit union should have a real problem with this information.

Mr. Perlitsh has since bowed to the NCUA pressure and removed the ad. How unfortunate.

Terry Shoemaker, CEO
Berks Community FCU, Reading, Penn.

LETTERS TO THE EDITOR

Credit Union Journal encourages reader feedback. Letters to the Editor can be sent to Managing Editor Lisa Freeman at lfreeman@cujournal.com. Letters can also be faxed to 561-832-2939 or submitted via the feedback at the top of an article.