It is about time that someone gave CUNA a reason to be more responsive to the needs of the majority of their membership (credit unions under $100 million in assets).

Mike Brandt

President/CEO, Evergreen CU

Neenah, Wis.

Embezzling CEO Sues Credit Union for Discrimination

Does the madness ever end with this person? Was his bond revoked with CUNA?

What about all the lives ruined with his lies?

"Later that day, however, the executive recruiter called Jelen back and questioned him about his employment with Valor. Jelen told the recruiter that he had been out on disability leave since Aug. 19 for Crohn's disease and was scheduled to undergo surgery by Oct. 1."

Why didn't they do a more intensive background check?

Lack

[He] probably paid for the civil attorney with the proceeds of the embezzlement. Wow!

Kerri Grimes Smith

Business Development &

Marketing Manager

Turbine FCU

Simpsonville, S.C.

Clinton Calls for Using CUs to Expand Business Access to Credit

Here we go. Mrs. Clinton mentions the words credit union so we should love her regardless of what the rest of her plans for the country are. She wants to cut red tape for community banks and credit unions but she supports the CFPB? Just curious, did anyone ask her if she knows what a credit union is?

harlie2

Melrose Credit Union Undercapitalized

Melrose has a war chest of loan loss reserve totaling $270 million, which is the equivalent to 14% of assets. The risk-based net worth calculation caps out how much of this can be counted, so Melrose ends up undercapitalized. Currently, Melrose has capital and loan loss reserves to cover 82% of all past dues (anything over 30 days). Will this be enough given that medallion loans have a diminished collateral value due to ride sharing? Who knows? Of greater concern is profit before provision during Q2. It was only $24k. If this is reflective of the power of the earnings engine going forward, then the future of the credit union as a viable entity is in question. Loan interest income fell by $4.5 million versus the prior quarter, and at the same time, noninterest expense increased by $1 million.

Mike Higgins

Partner

Mike Higgins & Associates

Kansas City, Mo.