Just a Coincidence?
Two reports show that fraud continues to be a major cause of credit union failure. Someone at NCUA should own this problem and fix it.
Why the Past Matters Today
Recently I posted two blogs that lifted stories Jeff Farver, a former credit union CEO turnaround artist, wrote for his family and friends about his career. War Stories or How Creative Leaders Save Credit Unions: Part 1 War Stories or How Creative Leaders Save Credit Unions: Part 2 In three multi-year workouts, two as CEO, …
An Example of Regulatory Leadership in the 1977 MCU Conservatorship
In a recent blog reviewing the latest events in the May 2019 NCUA conservatorship of MCU, I suggested that the real problem was the failure of regulators, especially NCUA, to publicly explain their actions and intentions. The lack of transparency means that no one is taking responsibility for decisions made. Contrast this approach with the …
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NCUA Board Member Harper’s Uninformed Stance on Risk-Based Capital (RBC)
It is one thing to be uninformed on a critical issue of public policy. It is another to open one’s mouth and remove all doubt. And then compound the folly by writing a public editorial after losing a 2 to 1 vote at the most recent NCUA Board meeting. Harper’s Rationale for Implementing Risk Based …
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The Unseen Cooperative Advantage
It is hard not to feel rushed in the Christmas season. The December countdown of shopping days left reinforces a sense of urgency. And the year-end looming a week later, brings a set of new goals with deadlines. Yet the cooperative model rewards the human and organizational virtue of patience. This is a characteristic often …
The Cost of Not Learning from Our Brethren’s Mistakes
Over the past twelve months the credit union community is on the hook or paid the bills for the following situations: A $1 billion cash payout for the Melrose CU and LOMTO FCU liquidations; An estimated $40.5 million shortfall for a two decade embezzlement by the CEO at CBS Employees FCU; A $125 Million write …
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Two Positive Updates & a Disheartening Decision
Two positive credit union updates; one disheartening decision.
The End of Kappa Alpha Psi FCU’s Journey to the “Promised Land” (Part II of II)
Part II of the series on the liquidation of Kappa Alpha Psi FCU by NCUA.
Schools Out: Virtual Summer Internships
The summer job market for students out of high school and college is more uncertain than usual. Employment in traditional roles in day camps, athletic leagues, and even retail stores are much fewer. But remote capabilities, developed to serve members, may also be a way to employ interns in value enhancing projects. Many of these …
Olan Jones: Born, Educated and Locally Grounded
Each year end brings the retirement of credit union leaders who have served a generation or more expanding the cooperative legacy. One such exit at Eastman Credit Union in Kingsport, TN is especially noteworthy. Olan Jones is leaving an institution he guided for over 20 years. Today it is $5 billion in assets versus $600 …
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