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11 comments:
The last time I checked one of the duties of the Board of Directors written in the Act is to provide for an effective collection system. I assume the State of NC Act has similar wording. So if you do not think repossessing your members collateral upon late payment and following all legal notice requirements is a good idea, you may be violating the trust that your members put on you!
Really like that comment, the superiority in wisdom and self-righteousness comes through so clearly for we lesser credit union folks ("you people") to accept with great gratitude.
If it is advice from the boinker side, would note that it is much like getting dietary advice from Jeff Dahmer.
... but thanks for the thought!
Send that truck to NCUA. Hook them up and drop them off at FDIC so they can see how a real federal regulator operates.
Moi? A boinker? Surly you jest!
OOPS! Wrong Jeff...
One of my happiest days as a credit union CEO, was the day I overheard the Collector respond to a member complaining about the repossession of his vehicle. The member made the assertion that the vehicle was not even worth the unpaid balance. The Collector responded that it did not matter, we were preventing further loss to the members that lent you the money.
The collector got the maximum salary increase at the next annual review.
It brings a smile to my face every time I think of that day. While I took no pleasure in the repossession, I took great comfort in know that we carried out our duty to our members to the best of our ability.
BTW: The member redeemed the vehicle later that afternoon.
Still struggle with the no mercy mentality of "tow-headed" boinkers who have written $100 billion in checks ("before taxes") to avoid being towed off to jail...
Guess fair is fair.... if you've got enough money!
...and from a prior commenter... yes sometimes i do "surly" jest!
Happy Thanksgiving....
Concerning the $100 Billion dollars in checks. This is part of the government unspoken deal with big banks. They collect big fees from banks and look the other way. Guess they could just tax credit unions?
FYI: Its not fair. It is collusion.
Thank goodness banks are taxed or they'd have to eat the whole $100 billion!
Fortunately, we, the American taxpayers, can help them out with those criminal fines to the tune of $30 to $40 billion...
... much better than wasting it on our local schools or food banks or Habitat houses or y'know wasting it on our kids' ballet lessons or 529 fund.
For honest taxpayers "crime does not pay" for banks well not so much so...
Jim, Hey! That started out funny... miss "this month" and the mean old bank will repossess. The CU on the other hand, will work with you. Is the first commenter from a bank, doesn't like you, misread the article, or just having a bad day? I thought the comparison was great! Keep it up.
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