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Northwest CU Association Chairman: 'We Must Recapitalize Corporates'

"I strongly urge all credit union executives to support the corporate credit union model," says the Northwest CU Association chairman.

By Bill Anderson | Updated on April 20, 2011

I  strongly urge all credit union executives to support the corporate credit union model. Not recapitalizing corporate credit unions may be a long-term solution to a short-term problem. While our industry is growing, it is still a very small player in the financial landscape. We can’t afford to become retail customers in a system controlled by our competition.

Credit unions that have been longtime members and used the corporate system heavily, such as Mid Oregon FCU, may find the ROI of recapitalization can easily exceed 10% per year. Add to that the operational costs, pain of extraction, the potential negative impact to credit union members and the extremely low-risk nature of corporates going forward, and the decision becomes clear: We need to make sure the corporate option continues to exist.

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