PayThink

WEST PALM BEACH, Fla.-Does reading the news in the credit union community often make you want to sound off? Have something to say about the final rule on corporates? Here's your chance to make a point and even blow off a little steam.

No issue has engendered the kind of reaction as has the failure and resulting cost of five corporate credit unions.

The insurance fund deposit is procyclical. We should switch to a premium-based insurance fund and incur an annual premium.

Personally, I am sick to death having to tell my board we, a little credit union that didn't have anything to do with this, may have to bail-out the NCUA for as long as 12 years, and climbing!

I really don't like paying for other people's mistakes. I sympathize with their misfortunes. However, I'm not bleeding, nor is our credit union.

It is more important than ever that credit union boards understand how their decisions can be judged.

If I had told you three or four years ago that in September of 2010 NCUA would be making a major announcement related to corporate credit unions, you would have told me "Stop right there, I already know what it will be, sure as John McCain has the presidency in 2008 all locked up."

Today's economy demands your credit union be thoughtfully, skillfully managed. And as the adage reminds us: You can't manage what you don't measure.

Though the CARD Act may be expected to hurt banks more than credit unions, we should not take that as a reason to be complacent.

Although faxing a document to a member asking for "wet" signature has worked great over the years, there is still one huge problem that remains — and that's paper.