Over the past couple of weeks, hot credit union topics ranged from taxi industry challenges and a tiny credit union making SBA loans to the latest with Alabama One. Check out a few highlights from our readers' comments below.
"Alabama One Conserved by ACUA," Aug. 27
They just got tired of all of the shenanigans. The ACUA should have closed this place before all the time and effort was spent with useless lawsuits. This CU's management will be prosecuted for their stupidity.
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—sweder
I would hope that the banking community wants to be sure of their decision. I find it interesting that Target and Visa, who are so concerned with the banks' safety, are trying to get the banks to decide before the other decision is made. Banking community, how can you make a decision without understanding all the options available to you?
—roleblond
Really great commentary! Given a "sow's ear," make silk or whatever.
—John Tippets, retired credit union CEO, Colleyville, Texas
Can they extend their FOM to include Uber or Lyft drivers? Something to consider before becoming another Kodak.
—James Stock
"Tiny New York CU to Make SBA Loans," Sept. 9
Innovation coupled with doing things for [members] that are meaningful and relevant is a small credit union's best chance of thriving against big banks and big CUs.
—Scott Yaw
Innovations usually come from the small companies. Look at fashion trends – the small boutiques come up with a new idea, they get publicity and the big stores copy it. Look at how Apple got started – small company, great idea. Big companies have layers and layers of bureaucracy to go through before a decision is made. At small companies, it's decided in one or two meetings. What reacts faster, a carrier or a speedboat?
—Mark Liset
There's an adage: "Innovation is taking two things that already exist and putting them together in a new way." Credit unions' personal loan products, plus a wealth-building financial system that converts consumer debt to equity, is a perfect example of this adage.
—Marv Elsen
But does the credit union movement have sufficient social capital reserves to mobilize meaningful numbers of members behind such a demand?
—Matthew Cropp
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