WITH NAFCUs RECENTLY ANNOUNCED 50% OFF DUES CUT OFFER - THOUGHT IT MIGHT BE WISE TO UPDATE "THE NUMBERS" !!
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| Small CUs: "Getting the boot"? |
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| CUNA's Core Value? |
Why? As Willie Sutton, the infamous 1930's bank robber, said when asked why he robbed banks:
"Well, that's where the money is!"
So, let's take a look at how the big guys fare in the CUNA/NAFCU comparison...
PROJECTED ANNUAL DUES
[does not include League dues which are extra!]
1) Navy $166,446 $263,990 *[cap]
2) SECU $112,470 $263,990
3) Pentagon $ 85,920 $263,990
4) Boeing $ 75,103 $263,990
5) SchoolsFirst $ 69,956 $263,990
6) The Golden 1 $ 62,434 $263,990
($200,000) now $231,000
7) Alliant $ 58,671 $200,000
($141,000) now $170,000
8) Security Servs. $ 58,671 $250,000
9) First Tech $ 56,143 $199,000
10) Star One $ 55,023 $157,000
11) San Diego Co. $ 53,495 $172,000
12) America's First $ 53,106 $229,000
13) Suncoast $ 51,520 $205,000
14) Digital $ 51,116 $185,000
15) Randolph Brks. $ 51,116 $190,000
Looks like each credit union could save
around
and have a greater direct voice in D.C. by using NAFCU.
Why not ask your membership if they'd rather make a gift of $190k to their local schools and food banks or make that gift to a D.C. lobbying firm??
[Yeah, do it at your next Annual Meeting!]
4 comments:
But Jim, look at the value you get for your dollar with CUNA and the Leagues. A former Congressman as the Chief CEO; a staff of experts to answer every question you may have; a team that challenges NCUA and according to them, wins; credit unions that would be taxed if not for CUNA's efforts and the most odious group of league presidents that can be put together.
Amazing that the offers have become so rich. Makes me wonder why they charge so much in the first place and to make these kind of dues cuts well were they not possible in the past? Why just now? Never mind I think I know why. This is getting ludicrous and makes me feel that we should all just dismount and prepare to fight on foot. Got a call from a CUNA Director (didn’t like the way I described the CUNA Board) and despite many call backs we have not been able to connect yet. Unlike Ensweiler and his League cronies (who asked many questions of Dave Adams LOL) and their angst over the Michigan League position I hope the CUNA director will be frank in his responses. Honestly I can’t see answers that would reasonably explain the Boards position but I'm ready to listen.
Your analogous reference to Animal Farm on the 1st was precise and on point. The boys and girls at the Leagues and Trades must of loved/hated it. Unfortunately its precision isn’t something we can take comfort in as our numbers continue to shrink. Looking forward to a full blown revolution.
My concern over smaller credit unions being lost in the shuffle of Trades competition was not necessarily monetary but thanks for the eye popping figures and if you are asking my vote would be for the schools or food banks.
Is there anyone out here that can justify the expense? Is there anyone out here that can justify even a 50% ROI on the actual dues dollar? If you send 'em $50,000 can you show a return to the credit union of even $25,000 in ROI? That is REAL ROI back to the credit union. And don't bring up the tax exempt status. If we are saving so much in tax exemption why do out rates on deposits and loans look strikingly similar to Chase, Wells Fargo and Citi Bank? What have the Trades done for you lately?
Dennis, good luck. Your call to CUNA has to likely pass through at least a dozen assistants of assistants before someone can (but won't) do or say anything.
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