Archive September 2009

On August 27, 2009, Dan Mica, President and CEO of the Credit Union National Association, announced that he will step down from his position in January of 2011.  This is one of the most important leadership positions for the credit union system.  This change will have implications for all credit unions in the years to come.

What kind of leader should the industry be seeking?  What skills, what vision and what experience?Read More

Chip Filson, in a recent article posted under the tag Credit Union Strategy in the credit union resource known as CreditUnions.com has choice words for every credit union professional planning to attend the NCUA Town Halls:Read More

The new NCUA Chair’s initiative to schedule town hall meetings is a very positive first step. Now it is up to credit unions to use this outreach with purpose and preparation.

Credit unions are used to meetings, even with the regulator. Frequently credit union leaders go as spectators trying to decide which speech they thought best or which breakout session will be most useful. That approach must change if credit unions and NCUA are to begin to close the chasm that now exists.

Preparation is Key:
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The NCUA (National Credit Union Administration) Town Halls announcement was made months ago, during the NCUA’s Webcast: The Read More

On the first anniversary of Lehman’s failure, there has been an outpouring of media stories asking if the largest bankruptcy in American history was the best public policy decision. One article with a different critique caught my eye. It is linked below and titled, But Who is Watching Regulators? from the New York Times on September 13, 2009.

The article raises the issue of how regulatory agencies, now with more power than ever, can be evaluated, or even held accountable. The writer’s main concern is the following:Read More

The CUNA-NAFCU task force is just the first of several industry efforts to define (divine might be a better term) the future of the corporate network.Read More

Recent Credit Union Rising analysis on overall credit union investment observed a trend that I feel is unbecoming of the industry:

“Over $13.3 billion [of credit union investments] was deposited in banks and S&L’s. This was a 40% increase in these institutions bringing the total investments to $46.8 billion.”

Health care affects every credit union member and business. The issue of reform is so relevant to the employee experience and a credit union’s bottom line that credit unions should take note.

Credit Unions Rising has pulled together a collection of health care reform references as well as opened a new topic on this site. It’s a place for credit union professionals to engage in the debate on our future health care system and ways CU’s can help limit the current cycle of soaring healthcare costs.Read More

The Credit Union Times just filed a report by Sarah Snell Cooke titled, “NCUA Town Hall Produces Honest Talk”. This is the best accounting of the Clayton, MO town hall that I’ve read thus far. Several potential changes to the operational requirements of the corporate credit unions were discussed, including:Read More

Recently we all breathed a collective sigh of relief when every finance news organization and television station broadcast signs of a retreating recession with “green shoots” sprouting up all over. What these pundits and economists seem to miss is that unemployment is still rising and for the communities hardest hit by layoffs, it’s difficult to see these “green shoots”.Read More

The September 24 NCUA Board meeting demonstrated the need for the Board to start asking some tough questions about numbers being presented to justify Board actions.

The projections presented by staff to justify withdrawing over $2.0 billion in cash from credit unions at a time of great member need fail to pass any reasonable reality test. They only reinforce the truism that all models are wrong; some are useful.Read More

The September 24 NCUA Board meeting demonstrated the need for the Board to start asking some tough questions about numbers being presented to justify Board actions.

The projections presented by staff to justify withdrawing over $2.0 billion in cash from credit unions at a time of great member need fail to pass any reasonable reality test. They only reinforce the truism that all models are wrong; some are useful.Read More

The September 24 NCUA Board meeting demonstrated the need for the Board to start asking some tough questions about numbers being presented to justify Board actions.

The projections presented by staff to justify withdrawing over $2.0 billion in cash from credit unions at a time of great member need fail to pass any reasonable reality test. They only reinforce the truism that all models are wrong; some are useful.Read More

On behalf of Jay Johnson, Executive Vice President of Callahan and Associates

I will preface my comments on some of the corporate issues mentioned earlier by offering context to understand this subject in a broader framework.

The Economy’s First Responders

One year ago global financial markets were in a total meltdown. The US economy had gone from a financial crisis to an economic one as it descended into a recession of unknown depth and duration. Fear and negativity dominated every headline and public discussion.Read More

On behalf of Jay Johnson, Executive Vice President

Callahan & Associates, Inc
NCUA Town Hall Meeting
Washington DC
September 30, 2009

Madame Chair: the following is a summation of recommendations from a longer statement that we have prepared for this Town Hall Meeting dialogue.Read More

Watch and listen to Jay Johnson, of Callahan & Associates, stand up and make a statement concerning the corporate credit union system at a recent NCUA town hall. A low quality version of this video was posted previously. With this version, you can hear him clearly.Read More