PayThink

Congratulations to any and all credit unionists who can Hike the Hill this week for CUNA's GAC and do so with a straight face. Because you've come a long way, baby, and the ability to talk one game while walking another is the true hallmark of a Washington insider, and isn't that what credit unions set out to do a decade ago?

A large-scale natural or man-made disaster in the 21st century is a frightening possibility. The financial services industry learned valuable lessons from the 2004 and 2005 hurricane seasons and from the 2001 terrorist attacks.

The "modest means" study, MSAP, and the Government Accountability Office (GAO) report are fading into the credit union movement's rear-view mirror. No startling revelations, no damning findings, no sweeping legislative recommendations-and thanks to Congressional transitions, no adversarial Ways and Means Chairman to lead an offensive against credit unions. Actually, it was all a little anticlimactic.

There is so much more that credit unions want to do to better serve consumers-and much that CUNA wants to do to help credit unions do that. Yet, the hard fact is that, sometimes, credit unions need to secure some changes in law or regulations just to create a more flexible operating environment in which to thrive.

As the new, 110th Congress settles down to business, credit unions will once again be seeking needed relief from outdated and burdensome regulations in an updated version of the Credit Union Regulatory Improvements Act, or CURIA. NAFCU has been working with Reps. Paul Kanjorski (D-PA) and Ed Royce (R-CA), the original cosponsors of the previous versions of the bill, to help ready the latest iteration of this vital legislation, and we hope it will be ready for introduction very soon.

The media and political discussions surrounding who credit unions are supposed to serve experienced a transition since the House Ways and Means Committee hearings on tax-exempt justification.

With the recent increase in postal rates, some credit unions may be considering migrating to electronic documents and delivery channels, even though reports show that an overwhelming majority (between 85% to 90%) of consumers still prefer to receive their statements in the mail and pay bills with a paper check.

A robust financial system should have a variety of financial institution charter options, by type-such as a commercial bank, thrift, credit union; chartering jurisdiction-state or federal; and organizational form- stock corporation or mutual.

"American Idol" fever is sweeping the country again. It's amazing that thousands of people line up for days for a chance to meet Simon, Randy and Paula and sing for the judges. What makes it even more amazing is that most of the contestants on "American Idol" cannot sing. Not a note. They can't carry a tune in a Samsonite suitcase - they are that bad.

I would like to throw my two cents into the pot. "It's Time To Stop Questioning Motives Of Officials At DFCU Financial CU" (CUJ, Jan. 22) starts out good, but, then goes downhill for me. I know nothing of what is going on at DFCU other than what I read. I am amazed when someone says "I hesitate to re-enter." They really don't or they wouldn't. When you say "I'm troubled by the incessant desire to doubt the motives of DFCU officials," I find that I raise my eyebrows and wonder about YOUR motives. They come later... Then you tell me "your motives are pure." I might not [have] had any doubt before, but, now I do. Why would you tell me your motives are pure? That is like me telling you I have NEVER lied before. What I wonder about from the officials at DFCU is the way they seem to stall information from being sent out. If they have "pure" motives, I would think they would show what they did, why they did it, and give facts to support their reasons. I haven't read any of this. Wrong is still wrong unless you come to the good part... They (DFCU Management) have decided to show the world what it takes to be a GOOD guy-give a $17.5-million dividend to the members. And to really make us look good-we will give $10 million to the League's Career Transition Program and the League will tell the world how great we are. I find it hard to believe a motive is pure after receiving that kind of money. PR ($10 million here, $17.5 million there) goes a long way in making anybody look good. I now know the amount it cost to get "pure motives" from a person. If people at DFCU did wrong then they should be dealt with, if they didn't then let the whole thing die. Their "good works" don't cover much in my estimation, let alone "walk the talk."