United We Stand? Yeah Right

In light of the turmoil that faces our industry, I find it somewhat galling that the credit union movement continues to shoot itself in the foot on a much more frequent basis. From NAFCU deciding to help deliver ammunition to our banker friends by involving itself in a state insurance issue to credit unions actively attacking each other in advertising campaigns. From the swamps of Florida to the mountains of Colorado, at what point does our movement decide that if we go it alone we will be as effective as a subprime lender in the Hamptons.

It is time for our industry leaders to come together and determine what is best for the 87 million members in United States. If we can’t get enough commitment behind the first piece of pro-credit union legislation, how do we expect our elected officials to jump on board. Our movement is at a very distinct crossroads. Consumer groups everywhere are looking for “The White Hat” to lead the fight against predatory lending, financial literacy and the mortgage market morass. Isn’t that why most of us love the credit union difference because we are supposed to help people.