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'Dance With the Devil,' Says Blount on Wal-Mart

Credit unions with Wal-Mart branches are now undergoing a reality check and may have to "dance with the devil" when it comes to dealing with the retailer and its planned rollout announcement last week of 1,000 "Money Centers," the president/CEO of the $750 million Tropical Financial Federal Credit Union said...

By Jim Rubenstein | Updated on June 26, 2007

MIAMI — Credit unions with Wal-Mart branches are now undergoing a reality check and may have to “dance with the devil” when it comes to dealing with the retailer and its planned rollout announcement last week of 1,000 “Money Centers,” the president/CEO of the $750 million Tropical Financial Federal Credit Union said Tuesday.

“Though we hope that’s not the case, you know there’s nothing stopping Wal-Mart from signing up with third parties like Countrywide for mortgages or someone else for auto loans,” maintained Gregory Blount, head of the CU headquartered in suburban Miramar.

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