Why Wyoming League decided to lower dues

<p>I read Mike Welch’s publisher’s column today about the issue of dues increases (May 29, 2002). I just wanted to share with your readers that in some areas we’re working really hard to make sure the level of dues charged is appropriate for the value received, and, that it is fair as possible for all size credit unions. Last year in Wyoming we had a dues task force that actually lowered dues for the majority of our credit unions-something that most trade association people don’t like me to mention. Although we are under a management contract with Colorado, we do not share the same dues formula and have a separate board of directors. I headed up this task force. We found the dues to be inequitable for credit unions in Wyoming. The dues difference between a $113 million credit union and a $13 million credit union was only $1,000! The end result was lowering the dues anywhere from 25% to 40% for 29 credit unions, while raising the dues for the top eight credit unions by 20%to 26% and removing the “growth cap.” Of course with Warren FCU being the largest credit union in the state at $135 million, our credit union has to pay the most. Nevertheless, as the task force leader, I set the example that it was the right thing to do. It was obvious the smaller credit unions had subsidized the larger credit unions in the past. Our League budget is much tighter as a result of the change effective this year. Yet, it makes the Wyoming Credit Union League more accountable for all money spent, or as Mike Welch said in his column, “more focused” on its mission. Maureen G. Tebo President/CEO Warren Federal Credit Union Cheyenne, Wyo.</p>