Archive August 2009

Editor’s Note: The May 2007 issue of the Callahan Credit Union Report was dedicated to the issue of disclosing executive compensation. Three of the industry’s leading thinkers, Chip Filson, Bucky Sebastian and Gary Oakland, all participated in the discussion, supporting the disclosure of salaries.Read More

On Friday, July 31, the House passed H.R. 3269, informally referred to as the executive compensation bill.  This will affect credit unions and compensation packages for credit union executives.  Here are the key provisions of which you must be aware:

•    Applies only to credit unions larger than $1 billion in assets (153 as of 1Q09)
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USA Today has had credit unions and cooperative principles square in their crosshairs this week, for a series of critical hit pieces.  Instead of focusing on how credit unions are providing assistance to members and consumers through this difficult economic period, Personal Finance writer Sandra Block wrote on Monday that “Some Short Term Credit Union Loans May Be High.”  While that article took issue with credit union alternative solutions to payday lending, Read More

Every new leader brings some elements of change.  But in credit unions today, the confirmation of Deborah Matz is especially timely.  The state of things, as characterized by one CEO, is that the credit union family is dysfunctional.

The rift and accompanying frustration between credit unions and NCUA prevents all parties from creating solutions that help members, and at the same time might avoid encumbering the industry for years on end with unnecessary burdens.  Moreover there are many positive trends on which to build:Read More

We received this query from Bryan Milligan, CFO at Chicago Patrolmen’s Federal Credit Union: Read More