"Know Thyself"
.... The Delphic Oracle
( 10 Zillion B.C.)
Monday, May 30, 2011
Sunday, May 29, 2011
Saturday, May 28, 2011
Thursday, May 26, 2011
NCUA Free/Dumb Riders......
"The NCUA unveiled a voluntary prepaid assessments proposal May 19."
"Participation by any credit union would essentially involve granting the NCUA an interest free loan for a few years."
"The voluntary nature of the program could also pose a "free rider" issue, where all credit unions could benefit from reductions in assessments in the short term at the expense of the subset of credit unions that voluntarily participate..."
Questions From Your Board:
Q: You are proposing an interest free loan to NCUA? A: Yes!
Q: Why not an interest free loan to our struggling member-owners? A: Well, ....
Q: Is a voluntary interest free loan in keeping with our fiduciary responsibility? A: Well ....
Questions From Your CPA:
Q: Are you sure this is a "pre-paid expense"? A: NCUA says so!
Q: Doesn't it look like a troubled debt restructuring(TDR): "Condition where a lender grants a concession to a borrower in financial difficulty"? A: Well, ....
Questions From Your Members:
Q: What the #!X&**! ......??!!! A: Well, ....
Questions From A Sense Of Outrage:
Q: Just who is the real "free rider" in all this? A: Well ....
"Participation by any credit union would essentially involve granting the NCUA an interest free loan for a few years."
"The voluntary nature of the program could also pose a "free rider" issue, where all credit unions could benefit from reductions in assessments in the short term at the expense of the subset of credit unions that voluntarily participate..."
Questions From Your Board:
Q: You are proposing an interest free loan to NCUA? A: Yes!
Q: Why not an interest free loan to our struggling member-owners? A: Well, ....
Q: Is a voluntary interest free loan in keeping with our fiduciary responsibility? A: Well ....
Questions From Your CPA:
Q: Are you sure this is a "pre-paid expense"? A: NCUA says so!
Q: Doesn't it look like a troubled debt restructuring(TDR): "Condition where a lender grants a concession to a borrower in financial difficulty"? A: Well, ....
Questions From Your Members:
Q: What the #!X&**! ......??!!! A: Well, ....
Questions From A Sense Of Outrage:
Haiku For You
Crossing The Line
There are no limits
Unless you chose to give up
Hope, love, and laughter.
Tuesday, May 24, 2011
Saturday, May 21, 2011
From the Field...
"We recently tested the tellers' drawers to make sure the keys were monogamous..."
Friday, May 20, 2011
For Better Or Wirz?
Henry Wirz is one of the CU movement's best thinkers - and commentators. Mr. Wirz is, also, remarkably credible since, over the years, he has served in numerous CU volunteer leadership positions and guides a highly successful CU in Sacramento, Ca.
Henry recently opined on "alternative capital" in the always incisive CU Times ("Capital Plan is A Bust" - 5/11/11). While Henry gets much of it right, he is a bit of a "historical revisionista" on the origins of CU cooperative capital. I ascribe this mainly to Henry's youthful inexperience; he's only been around for 25/30 years, a mere babe in the woods, still somewhat damp behind the auricular orifices.... looks like he's even begun to dye his hair gray to add "presence". Youthful optimism and exuberance - not really a fault - but for those of us who were actually there "at the beginning"....
Henry recently opined on "alternative capital" in the always incisive CU Times ("Capital Plan is A Bust" - 5/11/11). While Henry gets much of it right, he is a bit of a "historical revisionista" on the origins of CU cooperative capital. I ascribe this mainly to Henry's youthful inexperience; he's only been around for 25/30 years, a mere babe in the woods, still somewhat damp behind the auricular orifices.... looks like he's even begun to dye his hair gray to add "presence". Youthful optimism and exuberance - not really a fault - but for those of us who were actually there "at the beginning"....
Wednesday, May 18, 2011
Wishful Thinking...
"Hope for the best" is not a strategy, nor is "Don't worry, things will get better".
Tuesday, May 17, 2011
Haiku For You
On A Full Moon
Soft as rose petals ;
You are a thoughtful delight,
More fun than champagne!
Monday, May 16, 2011
Another MisadVensure....
Vensure Federal Credit Union has been making a lot of noise of late and has created quite a little "racket" over at the NCUA! According to the inimitable CU Journal (5-11-11), the recent conservatorship vote was necessary because, as Mike Fryzel (quoted from the Board minutes) stated: "We are going to be taking action on it at the last minute in order to make sure that we are not embarrassed further."
Mr. Fryzel went on to say, "now, at this late date, we sit attempting to take action before the Justice Department moves in and embarrasses us even further."
Well, it's at least encouraging to know that "the ole Redhead" is red-faced! Perhaps Mr. Fryzel will help rebuke the usual NCUA "apologists" who will surely come forward with: "Look, we're a small Agency and accidents do happen. After all, everyone trips up occasionally; and anyone can have an off-decade from time to time."
Alexandria does not appear to appreciate that the ("we, we, we") embarrassment tinge and taint fall a bit further afield, than just upon the self-reflective regulatocracy poodled-up on the corner of Duke Street....White teeth , Black eye, Red face.... well at least they're always colorful!
Another bad deal .... "Won't happen again" .... wanna bet?
Saturday, May 14, 2011
Friday, May 13, 2011
From the Field...
" We strive to be consistent with all members, even when their voice becomes an octave higher."
Tuesday, May 10, 2011
Saturday, May 07, 2011
From the Field
"One other teller had a large cash outage, which was later recovered. The best explanation for the error is that she is 12 months pregnant...."
Friday, May 06, 2011
Wednesday, May 04, 2011
Sunday, May 01, 2011
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