Congressional Subcommittee Testimony [Under Oath]:
"I don't believe that credit unions necessarily represent their members, and if they did, they wouldn't be asking us to cut our budget."
- Debbie Matz, Chair NCUA
before Congress - 7/23/2015
[CUJournal]
ISN'T IT TIME ?
The President: "Not Again !!!"
WH Aide: Mr. President, if this keeps on, we're going to have all 100 million CU members voting "red" in 2016 !!!
WH Aide: Mr. President, if this keeps on, we're going to have all 100 million CU members voting "red" in 2016 !!!
The President: "*X!#X8!!*^X"
Transparency - Accountability - Oversight
Transparency - Accountability - Oversight
3 comments:
What a clown show. Just another clueless bureaucrat
"I don't believe that credit unions necessarily represent their members, and if they did, they wouldn't be asking us to cut our budget."
If Debbie Matz said what she is quoted to have said, it supports the long held belief that she has a misguided understanding of credit unions. Credit unions fund NCUA. We owe it to our members to keep expenses down. Paying for an over-inflated NCUA takes money out of our members' pockets.
Telling congress that dedicated credit union professionals don't represent our members is beyond insult. She defamed thousands of hardworking professional with her ignorant blather.
While I do not agree with her conclusion that credit unions don't necessarily represent their members because they are asking for cuts to NCUA budget, I firmly believe that member's interests are not being represented at many credit unions.
There is a lack of proper governance issues within the credit union industry to beat the band. Nussle and Berger can preach to the choir about credit unions and their governance, but they are speaking hooey! You have invisible unaccountable boards who may or may not be doing things in the best interest of the member.
Drinking the credit union Kool-Aid and talking nonsense does not change the glaring problems with credit union governance.
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