Credit Union Life In Wartime....

"Silly, inept, amateurish.."

Probably more than enough has been written and said about the national embarrassment sparked by the risk-based capital rule (RBC), released earlier in the year by the NCUA - under the full auspices of both the NCUA senior staff and the NCUA Board. 

It was quickly apparent to the entire financial and political community that the proposed RBC rule was an unforced error of the first magnitude.  All credit union industry "stakeholders" were made to appear silly, inept, amateurish - including you, me, and the NCUA.

The new CU normal...

For those professionals working in credit unions these days, life is a high-energy struggle - perhaps a battle of life and death - in contending with low margins, an uncertain economy, exploding regulatory/compliance requirements, Target breaches, ApplePay, Wal-Mart checking, cyber-security, and everyday critical member/staff needs.  

A high-energy struggle waged at full speed, wide-open, on-the-run, with little margin for error ... silliness, ineptitude, or "amateurity". 

Wanted to be sure that the folks re-working their unforced error had a clear sense of the level of energy required to manage a modern-day CU; and to hear, keenly, the deep-seated resentment that many credit unions feel for the Agency's prior, painfully obvious blundering.

So here ya go!  Because in running a CU these days...

... "this ain't no party, this ain't no disco,

this ain't no foolin' around !!!"

And, if you don't have the common sense to reissue the rule for a second comment period, 

at least have the common decency to do so.