Why CUs Should Buck 'Chicken Little' Outcome
Editor's note: the following letter was written in response to "Bid Would Deter Credit Card Use" (May 12).
What a cozy group. What a bizarre cause. And what an outdated reason.
Here we are trying to convince America that credit unions are different than banks, that we're all about service, not-for-profit, and ready, willing and able to lead our economy to a new (and younger) frontier, and along come the antiquarians of our industry reminding us that old dogs, bad habits and tired thinking are hard to get rid of so long as there are scraps of meat falling from the table.
I strongly disagree with the reasoning and Chicken Little outcome these old barnyard dogs are barking about on this legislation. Instead, I see young Americans migrating to the debit (smart) card technology whether bankers and their credit card profits like it or not. And I will certainly let Sen. Durbin know that not all credit unions are as resistant to change and new ways of engaging our Members as the old cataract-eyed curs of banking.
And to think CUNA and NAFCU were recently growling at the NCUA for that old tail wagging the dog complaint.Michael Dillon, CEO
South Division CU
Evergreen Park, ILLETTERS TO THE EDITOR
Credit Union Journal encourages reader feedback. Letters to the Editor can be sent to Managing Editor Lisa Freeman at email@example.com. Letters can also be faxed to 561-832-2939 or submitted online at www.cujournal.com.