Fall 2017 kicked off with big news stories in the credit union industry, from the NCUA's raising of its Normal Operating Level to CUNA's Equifax lawsuit to Hurricane Maria's toll in Puerto Rico. Check out what readers had to say about the news on cutimes.com and Facebook here.
"Branches Are Here to Stay, and They're Better Than Ever," Sept. 21
Great write up on IQ in the Credit Union Times! It's refreshing to see an article that realizes that branches are not dead, but have transformed in a retail model to address the major needs of our members.
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Seth Schaefer
Chief eXperience Officer
Rivermark Community CU
Portland, Ore.
"Operating Level Boost Needed to Protect Share Insurance Fund: NCUA Board," Sept. 28
If the NOL needed to be raised to counter the risk of the taxi medallion credit unions, then perhaps the NCUA should have been more proactive with these credit unions and pointed out these risks BEFORE the values of these medallions began to drop so much. Once again, remaining credit unions are left holding the bag for the inability of the NCUA to regulate the industry properly, and instead of accepting its role in this, it simply passes it on to the current state of the economy (oh, there's a potential risk of a recession coming up soon) and the industry (there's no cry of a concentration risk and potential hit to the NCUSIF before the medallion meltdown) as the reason behind the increase. Ridiculous.
David Murphy
The NCUA has to be worried about the many dozens of credit unions that are going to fail due to the hurricanes, raising interest rates, the next recession and taxation. Hundreds of credit unions will fail all at the same time. You know they are thinking about that. I don't believe we will ever see any stabilization money returned and it is possible we will still see an assessment to cover for failed CUs in Texas and Puerto Rico.
sweder
"Equifax to be 'Held Accountable,' CUNA to File Lawsuit," Sept. 29
CUNA and others should pursue legal remedies against Equifax. This breach is rather massive.
WVF
"Emergency Supplies Arrive, Status of Many Puerto Rico CUs Unknown," Sept. 29
Our thoughts and prayers are with our fellow credit union friends and all of the good people of Puerto Rico. More than ever, our credit unions' ability to help is critical and a test to our mission to serve.
CRP Office
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