ARLINGTON, Va. – Despite an uncertain economy, aggressive regulators and a myriad of other challenges, there is a great deal for credit unions to be happy about, NAFCU President Fred Becker said at last night's meeting of the Metropolitan Area Credit Union Management Association.
"Delinquencies, charge-offs and bankruptcies are, by and large, headed down. And, they are much less at credit unions than at banks,'' he said. Becker also said that Bank Transfer Day, which came about after Bank of America proposed a $5 monthly fee for using its debit card, would be the first of many opportunities for credit unions to promote themselves.
"Rest assured, the big banks will continue to play a game reminiscent of my childhood. Remember the 'Whack-a-Mole' game? We are sure to have 'Bank Fee for Whack-a-Mole' — giving us the opportunity for more earned media,'' he added.
He noted that the industry had to be on the watch for aggressive regulatory actions, and said the NCUA has been "making our lives more miserable by the day.'' He cited the increase in documents of resolution in recent years, which Becker said the agency is handing out "like candy to a baby."
NCUA Chairman Debbie Matz has said that the aggressive regulatory steps have been needed to protect the health of the NCUSIF and that the agency's actions have prevented millions of dollars in losses.
Although Becker didn't mention it in his speech, yesterday NAFCU launched a new blog for credit union executives. The blog, called Musings from the CU Suite, will be written by Anthony Demangone, the trade association's senior vice president and chief operating officer.
"I envision the blog as a place to discuss great ideas that could help credit union leaders. And it would discuss college football,'' Demangone said in a statement. "It's an open invitation for everyone—from long-established credit union executives to those just starting out in the industry—to leverage the good ideas I uncover."
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