Congressional Testimony On The NCUA Budget [Under Oath]:
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| Never heard questions ? |
"Now that the trades have cooked this up as an issue, you might be hearing about it, but I never had any questions asked."
- Debbie Matz, NCUA Chair
[7/23/2015]
This performance has qualified for top honors in the 2015 "F-I-M" Awards competition....
The NCUA !!!!
First Place/2015 Grand Champion
The NCUA Robusterians* !!!
Second Place/Dishonorable Mention
* robusterian, n., English, derived from the adjective "robust"; meaning an advocate for rubbish "written by an idiot".
Transparency - Accountability - Oversight
Transparency - Accountability - Oversight
2 comments:
Listening to Matz testify to congress last Thursday was painful. Did she really mean to say that “credit union’s don’t represent their members”? Did she have a couple at lunch preceding the hearing or is that just what she truly believes? She also said that credit unions really don’t care about the NCUA budget – absolutely wrong. Here’s why!
As the corporate failures began to mount it was pretty evident that the only solution to the disaster would come from the backs of the natural person credit unions. We knew it would not be a cheap price and would severely impact the way we do business. Something else we knew was that we would be operating in a highly artificial and controlled environment and our ability to improve revenues would be tested. As a traditional credit union (promote thrift and make cheap loans) we accepted the fact that we would need to fashion operational efficiencies (cut expenses) rather than dump additional fees on members most of which seem to fall to those who can least afford it. So we did.
At year end 2009 our operational expenses were $1,336,486.00 by the end of 2014 we had cut, sliced and negotiated pricing until they were down to $1,017,834. Further we have not increased fees to members. Resisting the “courtesy (hardly) pay” solutions as well as “risk based lending” siren song. It has not been easy as we struggle to keep the non-profit cooperative ideal alive for members of Unity Credit Union and their kid’s.
At the same time we have observed the actions of a Federal Regulator who is willing to spend our member’s money like a drunken sailor on shore leave after 2 months at sea. (I spent 4 years and 5 months in the service of my country USN 1960-1965) so my characterization takes a little earned license. Apologies to my fellow sailors!
Chief Economist – really????
Fat raises and bonus’s for doing “your job”……..
Disneyland “training” with the costs being paid for by the governed. How many millions Mrs. Matz?
Travel expenditures that demand explanation… etc, etc.
Saying that “credit unions that question NCUA’s budget really don’t care about their members is sheer idiocy. CREDIT UNIONS THAT CARE ABOUT THEIR MEMBERS SHOULD QUESTION EVERY EXPENDITURE OF THIS REGULATOR because of your track record. Sorry about shouting.
Just for the record Mrs. Matz we care a great deal about how our member money is spent because every dollar that is funneled to the fund is some members that, as near as I can tell, might be better used by those of us who care how it is spent and for what purpose. Not the silly, aggrandized idea’s of a Chairperson gone “Washington” on us.
Dennis Moriarity, CEO
Unity Credit Union
Warren, MI, 49092
586-573-4110 ext. 321
Apparently with Debbie there, we don’t need to represent our members. She already knows what is best for them.
Stuart Perlitsh, CEO
Glendale Area Schools FCU Glendale, CA 91208 818-658-2369
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