Clearly NCUA has operating issues. We have let NCUA build the wall around Duke Street. Our trade associations discontinued representing their members in order to have a place at the table to act like they were representing their membership with NCUA. Somehow NCUA needs to be held to account for the squandering of Credit Union Member's money with their inappropriate legal contracts. Why we are not demanding that the NCUA's budget be cut by and amount sufficient to repay the industry for their mistakes is beyond me? Clearly, they have a bloated staff and operating expenses. It can not be difficult to repay the members by reasonable NCUA spending cuts.
The way I figure it. Credit Union leaders need to stand up and demand actually representation from our associations. If trade associations do not demand and achieve significant adjustments in NCUA's budget, than Credit Unions need to demand dues reductions until their members are repaid for NCUA failures and the associations failure to represent the Credit Union members!
Thank you mr Blaine. That clarifies it. The "we" you keep referring to is actually NCUA. No argument, agree. That said, for what WE can do about it? See brooks post. WE at my credit union HAS disaffiliated. No more money down the rat hole.
I find the concept of "We" very interesting. The regulator in the credit union industry gets it authority from forced extractions from "We" the regulated. It is funny how those in power worry about regulatory capture from the "We" the regulated. Somewhere in the last 230 years an important distinction about the United States seems to have been forgotten. "We" have got to be mindful, it all started with "We The People"! It is high time that "We" started to remind the government and their representatives who the "We" are and who is in charge!
FYI: I support a Strong, Fair, Transparent and Independent Regulator!
6 comments:
What action do you suggest, Mr. Blaine? (Shouldn't we act first).
Guess I'm not being clear enough! The NCUA Board needs to "ACT"... NOW!
NCUA has in the recent past been either accountable, competent, nor transparent.
The NCUA Board needs to change that perception... Now!
Clearly NCUA has operating issues. We have let NCUA build the wall around Duke Street. Our trade associations discontinued representing their members in order to have a place at the table to act like they were representing their membership with NCUA. Somehow NCUA needs to be held to account for the squandering of Credit Union Member's money with their inappropriate legal contracts. Why we are not demanding that the NCUA's budget be cut by and amount sufficient to repay the industry for their mistakes is beyond me? Clearly, they have a bloated staff and operating expenses. It can not be difficult to repay the members by reasonable NCUA spending cuts.
The way I figure it. Credit Union leaders need to stand up and demand actually representation from our associations. If trade associations do not demand and achieve significant adjustments in NCUA's budget, than Credit Unions need to demand dues reductions until their members are repaid for NCUA failures and the associations failure to represent the Credit Union members!
Thank you mr Blaine. That clarifies it. The "we" you keep referring to is actually NCUA.
No argument, agree.
That said, for what WE can do about it?
See brooks post.
WE at my credit union HAS disaffiliated.
No more money down the rat hole.
I find the concept of "We" very interesting. The regulator in the credit union industry gets it authority from forced extractions from "We" the regulated. It is funny how those in power worry about regulatory capture from the "We" the regulated. Somewhere in the last 230 years an important distinction about the United States seems to have been forgotten. "We" have got to be mindful, it all started with "We The People"! It is high time that "We" started to remind the government and their representatives who the "We" are and who is in charge!
FYI: I support a Strong, Fair, Transparent and Independent Regulator!
Bill,
A Fair, Independent Regulator - Strong and Transparent would definitely be a...
"FIRST".... in so many ways!
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