Just a note to clarify the letter from the former credit union trade organization officer that I distributed at the CU-to-Bank Conversion breakout session at the GAC and was briefly discussed in an article in the March 3rd issue of Credit Union Times ("CUNA Board shows its Concern about Greed Playing a Role in CU-to Bank Conversion.") The $3.5 million that I would have eventually received was only part of the $25 million package covering our directors and key employees. At the time the letter was written, CEFCU's capital was $75 million and assets were $1.1 billion. Today the credit union is $260 million and $2.6 billion, respectively. Obviously the price for "stiffing" our members will have to go up. Yeah, right! The reason for releasing the letter was to show that shyster attorneys have hired a few of our retired CU friends to sweet talk us in to believing conversions are good for our members when it really amounts to stealing. It appears those CUs that ended up as bank stock companies have only enriched their greedy CEOs and directors, and a few affluent members along with their shyster friends. Most CU members have not been willing or financially able to pay for the resulting bank stock. And why should they, since they already own their CUs. Hey you folks in Washington and Michigan. I'm a poor old retired credit union CEO. Let me know if I can help you with your conversions. Trust me – yeah, right! John Siefken Director CEFCU Peoria, Ill.