PRAT??
That's TARP in reverse... a system where CUs voluntarily lend the NCUA money... sort of a reverse bailout.
So OK, CUs have always been "backward thinkers"; but...
Thursday, June 02, 2011
Monday, May 30, 2011
Sunday, May 29, 2011
Saturday, May 28, 2011
Thursday, May 26, 2011
NCUA Free/Dumb Riders......
"The NCUA unveiled a voluntary prepaid assessments proposal May 19."
"Participation by any credit union would essentially involve granting the NCUA an interest free loan for a few years."
"The voluntary nature of the program could also pose a "free rider" issue, where all credit unions could benefit from reductions in assessments in the short term at the expense of the subset of credit unions that voluntarily participate..."
Questions From Your Board:
Q: You are proposing an interest free loan to NCUA? A: Yes!
Q: Why not an interest free loan to our struggling member-owners? A: Well, ....
Q: Is a voluntary interest free loan in keeping with our fiduciary responsibility? A: Well ....
Questions From Your CPA:
Q: Are you sure this is a "pre-paid expense"? A: NCUA says so!
Q: Doesn't it look like a troubled debt restructuring(TDR): "Condition where a lender grants a concession to a borrower in financial difficulty"? A: Well, ....
Questions From Your Members:
Q: What the #!X&**! ......??!!! A: Well, ....
Questions From A Sense Of Outrage:
Q: Just who is the real "free rider" in all this? A: Well ....
"Participation by any credit union would essentially involve granting the NCUA an interest free loan for a few years."
"The voluntary nature of the program could also pose a "free rider" issue, where all credit unions could benefit from reductions in assessments in the short term at the expense of the subset of credit unions that voluntarily participate..."
Questions From Your Board:
Q: You are proposing an interest free loan to NCUA? A: Yes!
Q: Why not an interest free loan to our struggling member-owners? A: Well, ....
Q: Is a voluntary interest free loan in keeping with our fiduciary responsibility? A: Well ....
Questions From Your CPA:
Q: Are you sure this is a "pre-paid expense"? A: NCUA says so!
Q: Doesn't it look like a troubled debt restructuring(TDR): "Condition where a lender grants a concession to a borrower in financial difficulty"? A: Well, ....
Questions From Your Members:
Q: What the #!X&**! ......??!!! A: Well, ....
Questions From A Sense Of Outrage:
Haiku For You
Crossing The Line
There are no limits
Unless you chose to give up
Hope, love, and laughter.
Tuesday, May 24, 2011
Saturday, May 21, 2011
From the Field...
"We recently tested the tellers' drawers to make sure the keys were monogamous..."
Friday, May 20, 2011
For Better Or Wirz?
Henry Wirz is one of the CU movement's best thinkers - and commentators. Mr. Wirz is, also, remarkably credible since, over the years, he has served in numerous CU volunteer leadership positions and guides a highly successful CU in Sacramento, Ca.
Henry recently opined on "alternative capital" in the always incisive CU Times ("Capital Plan is A Bust" - 5/11/11). While Henry gets much of it right, he is a bit of a "historical revisionista" on the origins of CU cooperative capital. I ascribe this mainly to Henry's youthful inexperience; he's only been around for 25/30 years, a mere babe in the woods, still somewhat damp behind the auricular orifices.... looks like he's even begun to dye his hair gray to add "presence". Youthful optimism and exuberance - not really a fault - but for those of us who were actually there "at the beginning"....
Henry recently opined on "alternative capital" in the always incisive CU Times ("Capital Plan is A Bust" - 5/11/11). While Henry gets much of it right, he is a bit of a "historical revisionista" on the origins of CU cooperative capital. I ascribe this mainly to Henry's youthful inexperience; he's only been around for 25/30 years, a mere babe in the woods, still somewhat damp behind the auricular orifices.... looks like he's even begun to dye his hair gray to add "presence". Youthful optimism and exuberance - not really a fault - but for those of us who were actually there "at the beginning"....
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