The "buzz" has already begun on the countdown (
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| UFG !! |
Definitely a watershed moment - right? CUNA in its excitement has even put aside the UFG campaign (don't try to make that into some sort of vulgar text message abbreviation - it stands for Unite For Good!) in favor of a spiffy "100 million member Flashdash".
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| In the "loop"..."robustly"?? |
What's even better than the trade association push, however, is the cooperation from the NCUA in validating - through those ever important, "file-on-time-or-die" 5300 Call Reports - the official, Federal agency confirmed membership count. As always we can rely on the economic robusterians and stochastically-enhanced gnomes over on Duke St. to give us the right metrics....
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| You can count on us - "always"! |
As of March 31, 2014
# of Credit Union Members: 97,110,343
# of Potential CU Members: 1,786,176,581
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1+1 = 1.7 ? |
Wait a minute.... 1.7 billion "Agency confirmed" potential members?
How many people live in America???
7 comments:
This membership number is also incorrect. It does not take into account multiple accounts at different credit unions. Should back off on the fireworks over the number because the Bank Trade Associations will have a field day on our ability to count!
so, now we know where the numbers ALL come from - air. plucked out of the ether.
The NCUA doesn't have a clue how ridiculous they are. superwoman lives in alternate universe.
Credit Unions are paying dues to the robusterian Humple, who miscounted bank transfer day, flat out fabricates membership numbers and was quoted in the credit union times in December 2008 that the assessments would only be 10 bps to cover the CCU losses...he then produced 2 white papers on projected losses and assessments that were equal parts absurd and fabricated...even said the losses in credit unions would be less from credit bubble than in years past because there would be less fraud.
Less fraud, good one.
Analysis produced to achieve a desired outcome...deceive credit unions.
Can see why the ABA is worried about the field of membership issue.
Bet Navy Fed has taken in China, it adjoins an ocean!
NCUA has probably already forecast a need for 10,000 more examiners to handle the potential increase in their currently exhausting,"make work' load.
NCUA has said they are working on a new risk-weight for the membership numbers - its a safety and soundness issue.
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