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Converting Texas CUs Don't Deserve a Pass

Regarding your latest online voting poll regarding whether or not NCUA is being too strict in disqualifying Community CU and OmniAmerican's conversion ballets, I offer this take. I have not seen the material that has been sent nor the full text of the requirements of NCUA. But it seems to...

By Staff Writer | Updated on July 12, 2005

Regarding your latest online voting poll regarding whether or not NCUA is being too strict in disqualifying Community CU and OmniAmerican’s conversion ballets, I offer this take. I have not seen the material that has been sent nor the full text of the requirements of NCUA. But it seems to me if you are told how to comply and you do not comply, you do not get to pass GO. You have to back up and start over again. I could understand if NCUA was the one who messed up the mailing. But with something as important as “Into whose pocket is my equity going?” the regulator has a right to make sure the disclosure is as clear as possible. If the credit union messed up the mailing, just admit it and start over. James D. (Jim) Holt President Mid American Credit Union Wichita, Kansas (Editor’s Note: Holt is the former president of the Colorado CU League.)

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