Change certainly is inevitable – embrace it and live on. I believe in the next 10 to 15 years we will probably move to the next generation of devices – [they] may be wearables, embeds, etc.

K. Venugopal

Rep. King to Congress: Examine the CU Tax Status

How much is the ABA paying Mr. King?

It is the responsibility of everyone in the credit union community to emphasize the tax exemption does not cost the government anything.

If you want to discuss costs, let us look at what TARP cost. Let's look at how much government money went into bailing out the "too big to fail."

When the corporate credit unions had issues, there was no payout by the government, credit unions took care of it. Surely those are more important than little old credit unions.

BillyBobJim

Dodd-Frank Compensation Rules Shouldn't Apply to Credit Unions

Why must credit unions always fight against regulations? It doesn't matter what it is, the trade groups always fight it. If you want incentive compensation, go work for a bank. Our incentive should be helping the member. Every dollar that goes to an employee is a dollar in services or products that a member is not getting. Incentive compensation should be banned outright. That is not why we come to work. Keep it up and get us taxed.

Sweder

[Sweder,] your plan would have second tier people working for credit unions. If any company wants the best, then it should be able to pay for the best talent. Or at least the best talent at the money level. Pay levels differ between markets. Los Angeles has a higher salary range than Kansas City or even Phoenix.

JustAPlayer

Sorry, but the second tier people are the ones motivated by money. The top tier people are working for the credit union.

Sweder

I see nothing wrong with having incentive-based pay plans. I don't work for a credit union to get rich, but I also didn't take a vow of poverty. Simplistic arguments such as "that's why you get a salary" or "good talent (best people, top tier, etc.) doesn't need incentive pay" are false. A well controlled pay plan that rewards people for achieving clearly outlined goals is not a bad thing. Goals can be aligned with a credit union's mission and not just something that takes away from members.

BillyBobJim

Billy – agreed. Well designed programs reward for sustaining high levels of economic value creation for members at top performing credit unions. You don't get to be a top performer with below average talent. For credit unions that are not top performers yet, programs can be designed to reward for improving member value [that is] created. In both cases, plans can be 100% self-funded and include a minimum performance threshold. Blanket statements about the efficacy of performance-based compensation plans demonstrate a lack of understanding of how such plans can benefit both members and employees.

Mike Higgins

Partner

Mike Higgins & Associates

Kansas City, Mo.

JMFA Sues First Imperial CU in California

This story exposes a very dirty underside to ODP programs. JMFA, other vendors and credit unions make a huge amount off of the people who can least afford it.

Are we really helping members with ODP programs or are we just repackaging payday loans and calling them by a different name? Way too many credit unions are living off of this income.

BillyBobJim

Tales of an Emo Editor: Looking Back to Look Ahead

Congratulations, Sarah. You'll excel like you have at the other stops along the way.

Rick Uhlmann