Working on several projects not yet ready for prime time, so will share several thoughts.
From a GAC presentation on credit union’s super power-but is it just credit unions?
- NY Fed bank President at the GAC 2026: Regarding the affordability crisis, Akin asked Williams to explain what role local financial institutions play in supporting resilience, to which he answered that, as local institutions, credit unions are better positioned than anyone to support families through economic hardships due to their community roots.
“One of credit unions’ superpowers is that you’re connected to your communities,” said Williams. “It’s the fact that you’re part of the community. You understand the local conditions, the economic challenges, and the opportunities.”
- The personal advantage of local even in war: When Ukraine was invaded and what gave most comfort: I met up with my colleague at a metro station deep underground and walked to his apartment. Never had I known how comforting the presence of familiar people can be when everything is so uncertain.
- Mergers should all be required to present independent appraisal of the combing credit union’s market value before members vote on turning over control to a third party.
- We have had many internal conversations about whether we would change our mission if we were taxed. And for the moment, the threat of taxation would not change our “reason for being.” But I am also realistic about the fact that conventional credit unions don’t care about “mission” but rather about “growth.”
- Garrison Keillor’s humor: How many philosophers does it take to change a light bulb? “Define light bulb.” And the one about the student who got an A in philosophy by writing a paper proving that his professor didn’t exist.