PayThink

When I first heard about credit unions being all about "people helping people" I thought, "Nice rhetoric," but what does it really mean. That was in back in 1977 when I was hired by the Illinois league to be its first-ever general counsel. I have now been CEO of the league for more than 25 years and have experienced that philosophy in so many ways on a daily basis.

Kulia Ohana Federal Credit Union is a $4-million credit union that serves residents of Wailuku and Kahului, Maui. The credit union is tucked away on a quiet residential cul de sac, and though small in size, the credit union is big on making a difference. One Kulia Ohana FCU member experienced this first-hand.

I enjoyed Frank Diekmann's Jan. 12 column about his CU experiences over the years, as credit unions in America celebrate their 100 anniversary. We all have some stories to tell, don't we? And, that's what's so powerful about member testimonials because they are real-just like our credit unions. Georgia FCU celebrated its 50th anniversary in 2008, starting with $35 in deposits and now $500 million in assets. After 25 years personally with GFCU, I can't imagine working any where else or loving it more! And, could there be a better time to share the good news about credit unions being "safe havens" for consumers than during the current recession?

In response to the Jan. 5 article titled, "Consumers 'Think' Green, But Don't Act That Way," CO-OP Financial Services fully supports the notion of doing our part to reduce the excesses that cause harm to the earth. Late last year, CO-OP opted to discontinue printing its paper directories of over 28,000 surcharge free ATMs and 3,500 shared branch locations. We felt this was practicing good corporate social responsibility on our part.

Can you really afford to attend a conference in 2009? And not just because of the cost. Take a look around at the economy. Who even wants to leave the credit union, or, for that matter, their own house?

Banks aren´t handling their foreclosed properties very well, according to an American Banker story that ran this week (disclosure: I wrote it). That phenomenon is keeping prices down, sure, but there´s another widespread consequence to having so many poorly managed real estate-owned properties around. This one´s-well-itchier.

At his confirmation hearing in the Senate Finance Committee today, Timothy Geithner, the nominee for Treasury Secretary, said he used Turbo Tax to file his taxes during the time that he worked at the International Monetary Fund.

Washington will be both busy and completely shut down on Monday and Tuesday, and then it will be busy again on Wednesday. Perhaps the country will have a new Treasury Secretary by the end of the week; perhaps not. And what of the second half of the Tarp money? Answers to these questions and more...

In my 36 years at CUNA Mutual, I have been afforded the opportunity to travel around the world representing our organization in many countries. I have often stated to my co-workers in Madison that I wish they could experience what I have seen firsthand; the "people-helping-people" philosophy and practice in our movement.

While working for the Bethpage Federal Credit Union in New York in 1980 part of my duties included business and new member development. In addition to branch operations management I would traverse the nation speaking with employees of the giant aerospace concern Grumman and their affiliates.