Credit Union Uniqueness

“The disturbing word bandied about this year so far is comparability.” It came up in President Bush’s plan for solving the S&L mess-to make the NCUSIF accounting comparable to those other funds. . .Comparability is also echoed in the phrase, “bank envy”, the desire of some credit union people to enjoy more of the powers of banks. . . this comparability stems from a kind of inferiority complex. Those who embrace the notion believe that by becoming more comparable we are somehow elevating ourselves. In fact, the opposite is true. Credit unions are different. There were set up to be different and should remain different. They are different because we put the emphasis on the people we serve. Our strength is that we help people.”

(Ed Callahan July 1989)

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