Strength in Numbers
Credit unions are the most successful performers during the current crisis. Unified strength and earnings power are behind this success, a winning combination that can help ensure the best possible Federal legislation is enacted, following the NCUA conservatorship action.
The bill that passed the House of Representatives, HR 1106 – The Helping Families Save Their Homes Act of 2009 – is off the mark. There already exists a better, simpler, less-expensive way to pay back the anticipated Corporate losses. This in-house solution reflects the reality that NCUSIF can already borrow on any terms it wishes from the NCUA Central Liquidity (CLF), a fairer, less expensive approach that HR 1106 ignores.
But how best to get the word out to the right ears on Capitol Hill? 'Strength in numbers' is the force behind a new interactive communications channel, an interactive forum to allow you to share your views and amplify the voice of the industry at this crucial juncture.
Chip Filson
President, Callahan & Associates
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